Shandong Yuchang Trading Co., Ltd. entered into an equity transfer agreement to acquire Beijing Apis Biotechnology Co. Ltd. from Beijing Leadman Biochemistry Co.,Ltd. (SZSE:300289) for CNY 6.5 million on June 18, 2020. Under the terms of the agreement, the first equity transfer payment will be made within 5 working days from the effective date of the agreement, the transferee shall pay the equity transfer price of CNY 2.5 million to the bank account of the transferor; second equity transfer payment will be made within 5 working days from the completion of the equity transfer, the transferee pays the equity transfer price of CNY 1 million to the transferor’s bank account and the third equity transfer payment will be made before March 1, 2021, the transferee paid the equity transfer price of CNY 3 million to the transferor's bank account. As at December 31, 2019, had total assets of CNY 19.6 million and net assets of CNY 4.8 million. For the year ended December 31, 2019, Beijing Apis Biotechnology had revenue of CNY 23 million, operating profit of CNY 0.42 milion and net profit of CNY 0.5 million. The transaction proposal doesn’t need to submit to the meeting of Directorate nor shareholders’ meeting of Beijing Leadman Biochemistry.