Aier Eye Hospital Group Co., Ltd. (SZSE:300015) signed an agreement to acquire 90% stake in Chongqing Kaizhou Every Sunshine Eye Hospital Co., Ltd. and 90% stake in Chongqing Wanzhou Every Sunshine Eye Hospital Co., Ltd. from Li Mahao, Shang Yali and Weifang Mule Enterprise Management Consulting Partnership (Limited Partnership) for approximately CNY 400 million on October 29, 2019. Under the terms, Aier Eye Hospital will issue in total 10.4 million shares for this acquisition. For the acquisition of Chongqing Wanzhou Every Sunshine Eye Hospital Co., Ltd, it will issue 5.1 million shares to Li Mahao, 1.8 million shares to Shang Yali and 0.9 million shares to Chongqing Mule. For the acquisition of Chongqing Kaizhou Every Sunshine Eye Hospital, it will issue 1.6 million shares to Li Mahao, 0.58 million shares to Shang Yali and 0.29 million shares to Chongqing Mule. Lock up period is 12 months since issuance date for all parties. On June 1, 2020, the deal terms revised. As per the new terms, 10.3 million shares will be issued for stake in Chongqing Wanzhou Every Sunshine Eye Hospital Co., Ltd. and 3.3 million will be issued for Chongqing Kaizhou Every Sunshine Eye Hospital Co., Ltd. Aier Eye Hospital Group Co., Ltd. will now acquire the stake for CNY 530 million. After the completion, Li Ma and Shang Yali will exit from Chongqing Wanzhou Every Sunshine Eye Hospital Co., Ltd. and Chongqing Kaizhou Every Sunshine Eye Hospital Co., Ltd. while Aier Eye Hospital Group Co., Ltd. will hold 90% and Weifang Mule Business Management Consulting Partnership Enterprise (Limited Partnership) will hold 10%. In related deal, Aier Eye Hospital Group Co., Ltd. signed an agreement to acquire 100% in Zhanjiang Allad Visual Optics Center Co., Ltd. and 80% in Xuancheng Eye Hospital Co., Ltd. from Guangdong Zhongsheng Pharmaceutical Co., Ltd. For the year ended December 31, 2018, Chongqing Wanzhou Every Sunshine Eye Hospital Co., Ltd. and Chongqing Kaizhou Every Sunshine Eye Hospital Co., Ltd. reported total assets of CNY 97.6 million, net assets of CNY 50.1 million, revenues of CNY 89.3 million, EBIT of CNY 24.1 million and net profit of CNY 19.3 million. The deal is subject to Li Mahao, Shang Yali and Chongqing Mule Business Management Consulting Partnership Enterprise (Limited Partnership) completing the acquisition of Chongqing Wanzhou Every Sunshine Eye Hospital Co., Ltd. and Chongqing Kaizhou Every Sunshine Eye Hospital Co., Ltd.’s 100% stakes. The deal also requires secondary approval from Board of Directors and shareholders of Aier Eye Hospital Group Co., Ltd., State Administration for Market Regulation’s Review on Business Concentration Anti-monopoly and CSRC. On October 29, 2019, the target companies issued their respective shareholders resolutions, agreeing to the transfers. On October 29, 2019, the Board of Director of Aier Eye Hospital Group Co., Ltd. approved the deal. The respective internal decision-making authorities of the sellers have approved the transfers. As on January 7, 2020, the 3rd session of Aier Eye Hospital Group's 5th directorate approved this transaction. On January 7, 2020, Li Mahao, the executive partner of Weifang Mule Enterprise Management Consulting Partnership (Limited Partnership), made a decision and agreed to the signing of a supplementary agreement to the present transaction. On February 3, 2020, the transaction was approved by the Aier Eye Hospital Group's shareholder on the first extraordinary general meeting of shareholders in 2020. On March 6, 2020, the transaction was approved the Aier Eye Hospital Group's directors on the seventh meeting of the fifth board of directors. On March 23, 2020, the transaction was approved by the Aier Eye Hospital Group's shareholder on the second interim general meeting of shareholders in 2020. As on May 27, 2020, CSRC approval was received. Huatai United Securities Co., Ltd. acted as financial advisor, while Li Rong, Zhou Linkai and Chen Qiuyue of Hunan Qiyuan Law Firm acted as legal advisors to Aier Eye Hospital Group. Liu Jun and Yu Baoyu of Mazars Certified Public Accountants LLP acted as accountants to Aier Eye Hospital Group and Chongqing Wanzhou Every Sunshine Eye Hospital Co., Ltd. and 90% stake in Chongqing Kaizhou Every Sunshine Eye Hospital. Shang Chi and Cheng Chuanquan of Hubei Zhonglian Asset Evaluation Co., Ltd. acted as appraiser to Aier Eye Hospital Group.