Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company (SZSE:300111) entered into an agreement to acquire Zhejiang Better Pharmaceuticals Co., Ltd. from Shaoxing Sunflower Investments Co., Ltd. for CNY 750 million on August 31, 2018. Under the terms of the transaction, Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company will issue 283.02 million shares at CNY 2.65 per share as consideration. For the year ended December 31, 2017, Zhejiang Better Pharmaceuticals Co., Ltd. reported total assets of CNY 381.6 million, net assets of CNY 287.3 million and operating revenue of CNY 188.7 million. The transaction is subject to approval from the shareholders of Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company and approval from China Securities Regulatory Commission. On August 31, 2018, the transaction was approved by the 3rd meeting of the 4th directorate of Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company and Shaoxing Sunflower Investments Co., Ltd. On January 29, 2019, the transaction was rejected by the Merger, Acquisition, and Reorganization Examination Committee of Listed Companies of the China Securities Regulatory Commission. On March 5, 2019, Zhejiang Sunflower Light Energy Science & Technology received the decision of the China Securities Regulatory Commission on not approving Zhejiang Sunflower Solar Energy Technology Co., Ltd. to issue shares for the transaction. On March 11, 2019, Zhejiang Sunflower Light Energy Science & Technology held the eleventh meeting of the fourth board of directors, and reviewed and approved the proposal on continuing to promote the issuance of shares for the transaction. Wu Chenggen, Luo Yunxiang, Zhao Hua, Huang Jie, Yang Yi, Liu Yujun, and Zhang Ying of Zheshang Securities Co., Ltd. acted as financial advisors, Shen Tianfeng, Shi Xueyuan, and Dai Qiyun of Grandall Law Office (Hangzhou) acted as legal advisors, Zhu Jiandi, Zhang Jianxin, Yang Jinxiao, and Zheng Fang of BDO China SHU LUN PAN Certified Public Accountants LLP acted as accountants and Mei Huimin, Zhou Qiang, and Wang Hongyun of Yinxin Appraisal Co., Ltd. acted as assessment agency to Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company. Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company (SZSE:300111) cancelled the acquisition of Zhejiang Better Pharmaceuticals Co., Ltd. from Shaoxing Sunflower Investments Co., Ltd. on August 31, 2019.