Shandong Sinder Technology Co., Ltd agreed to acquire Shandong Hile Biological Products Co., Ltd. from Shanghai Hile Bio-Technology Co., Ltd. (SHSE:603718) for approximately CNY 110 million on April 11, 2023. Under the terms, Shandong Sinder shall pay 30% of the equity transfer payment, which is CNY 33.99 million, and within 15 days after the completion of the registration of the change of market entities, shall pay the remaining 70% of the equity transfer payment, which is CNY 79.31 million. In a related transaction, Shanghai Hile Bio-Technology intends to sell 100% equity of Shanghai Caiyin Biotechnology Co., Ltd. to Shanghai Zhizhuo Enterprise Management Consulting Co., Ltd. for CNY 2 million.

The transaction is approved by the board of directors of Shanghai Hile Bio and and does not need to be submitted to the company's shareholders' meeting for review. As of February 28, 2023, Shandong Hile reported Total assets of CNY 90.1 million and Net assets of CNY 54.3 million.