Shanghai Kehua Bio-Engineering Co.,Ltd (SZSE:002022) agreed to acquire 38% stakes in Xi'an Tianlong Science And Technology Co., Ltd. and Suzhou Tianlong Biotechnology Co., Ltd. from Peng Niancai, Li Ming, Miao Baogang, and Xi'an Yujing Tongyi Enterprise Management Partnership Enterprise (Limited Partnership) on September 29, 2022. The issue price for this asset acquisition is CNY 20 per share. This transaction was approved by Shanghai Kehua Bio-Engineering directorate, supervisory board and Internal decision-making body of the counter party.

This transaction still needs to be approved after target's audit, appraisal work, Shanghai Kehua Bio-Engineering would need to hold another directorate to approve this transaction. Shanghai Kehua Bio-Engineering shareholders' meeting must approval the transaction's formal plan and from China Securities Regulatory Commission.