Harbin Pharmaceutical Group Holding Co., Ltd. made an offer to acquire 25.2% stake in HPGC Renmintongtai Pharmaceutical Corporation (SHSE:600829) for approximately CNY 970 million on August 23, 2019. Under the terms, Harbin Pharmaceutical will pay CNY 6.65 per share in cash and will acquire 146 million shares. The validity period of the tender offer is August 27, 2019 to September 25, 2019. As of September 5, 2019, the total number of shares subject to the offer was 1,500 shares. On September 11, 2019, HPGC Renmintongtai Pharmaceutical Corporation held its 9th directorate’s 3rd meeting and approved the transaction. JZ Securities Co., Ltd. acted as financial adviser for HPGC Renmintongtai Pharmaceutical Corporation in the transaction. Harbin Pharmaceutical Group Holding Co., Ltd. made an offer to acquire minority stake in HPGC Renmintongtai Pharmaceutical Corporation (SHSE:600829) for CNY 0.02 million on September 25, 2019.