Snagatr (Fujian) Oral Health Technology Co., Limited entered into an agreement to acquire Frog Prince (Fujian) Baby & Child Care Products Co., Limited from Prosperous Future Holdings Limited (SEHK:1259) for CNY 50 million on July 4, 2022. Under the terms, CNY 5 million will be paid within three business days upon agreement and CNY 45 million will be paid in cash within three business days of the completion. In the year ending on December 31, 2021, Frog Prince (Fujian) Baby & Child Care Products Co. generated revenues of approximately CNY 500 million, loss before taxation of CNY 51.6 and loss after taxation of CNY 54.9 million. The deal is subject to the approval by Prosperous Future's shareholder, and conditional upon and subject to the fulfillment and satisfaction of the all necessary authorisations, consents and approvals obtained by all deal participants. Merdeka Securities Limited acted as financial advisor to Prosperous Future Holdings Limited.