Anhui Huaren Health Pharmaceutical Co., Ltd. (SZSE:301408) signed an agreement to acquire Jiangsu Shenhua Pharmaceutical Co., Ltd. from Full Health (Hong Kong) Limited for approximately CNY 350 million on July 7, 2023. Under the terms, Anhui Huaren Health will pay CNY 80 million after signing of the agreement and upon fulfillment of other conditions, CNY 120 million on completion and upon fulfillment of other conditions, CNY 51.5 million after 12 months of delivery of this acquisition and fulfillment of other conditions and remaining CNY 95.4 million after 24 months of delivery of this acquisition and fulfillment of other conditions. Jiangsu Shenhua Pharmaceutical reported Total assets of CNY 277.9 million, Net assets of CNY 199.6 million, Operating revenue of CNY 212.5 million, Net profit of CNY 30.9 million, and Operating profit of CNY 33.9 million for the year ended December, 2022. The transaction has been approved the Anhui Huaren Health's 4th directorate during its 10th meeting held on July 7, 2023 and does not require approval from the shareholders.

Anhui Huaren Health Pharmaceutical Co., Ltd. (SZSE:301408) completed the acquisition of Jiangsu Shenhua Pharmaceutical Co., Ltd. from Full Health (Hong Kong) Limited on July 19, 2023.