XIN JIANG READY HEALTH INDUSTRY Co., Ltd. (SHSE:600090) signed an equity transfer agreement to acquire 60% stake in Beierkang medicine group from Wuhan Qinghua Zhuojian Medical Investment Management Co., Ltd. for CNY 270 million on December 9, 2019. As per the terms, consideration will be payable in cash. Within 30 days since the agreement takes effect, XIN JIANG READY shall pay CNY 135 million to Wuhan Qinghua Zhuojian Medical Investment, within 30 working days from the date when Wuhan Qinghua Zhuojian Medical Investment transferred the Beierkang medicine's assets to XIN JIANG READY HEALTH INDUSTRY and completed the industrial and commercial change registration of this equity transfer, XIN JIANG READY HEALTH INDUSTRY shall pay the rest of the transfer price CNY 135 million. As of December 31, 2018, Beierkang medicine group reported total assets of CNY 928.1 million, net assets of CNY 72.1 million, revenue of CNY 1.4 billion and net profit of CNY 37.6 million. The transaction has been approved at the 4th meeting of the 9th directorate of XIN JIANG READY HEALTH INDUSTRY Co., Ltd. and it still needs the approval of its shareholders’ meeting. As on March 23, 2020, transaction was not approved the shareholders of XIN JIANG READY HEALTH INDUSTRY.