Midea Group Co., Ltd. (SZSE:000333) signed a share transfer agreement to acquire 24.09% stake in Beijing Wandong Medical Technology Co., Ltd. (SHSE:600055) from Jiangsu Yuyue Technology Development Co., Ltd. and Wu Guangming for CNY 1.9 billion on February 2, 2021. Under the terms of the transaction, Midea Group Co., Ltd. will pay CNY 14.6 per share to acquire 126.5 million shares from Jiangsu Yuyue Technology Development Co., Ltd. and 3.8 million shares from Wu Guangmin. The share transfer price to be paid to Jiangsu Yuyue Technology Development Co., Ltd. and Wu Guangming (CNY 1,902,296,955) is paid in two installments, of which the total share transfer price to be paid in the first installment is CNY 1,842,296,955, which shall be paid within 7 working days after the delivery date. The total share transfer price to be paid in the second phase is CNY 60 million, which shall be paid within 7 working days from the expiry date of 12 months after the delivery date. Upon completion, Jiangsu Yuyue Technology Development Co., Ltd. will own 3.3% stake in Beijing Wandong Medical Technology Co., Ltd. In a related transaction, Midea Group Co., Ltd. signed a share transfer agreement to acquire 5% stake in Beijing Wandong Medical Technology Co., Ltd. from Yu Rong for approximately CNY 400 million. Upon completion, He Xiangjian will become Beijing Wandong Medical Technology Co., Ltd.'s actual controller. Jiangsu Yuyue Technology Development Co., Ltd. and Wu Guangming shall urge the 3 non-independent director candidates nominated by Midea Group Co., Ltd. to be elected as non-independent directors of the listed company, And should urge one of the three non-independent directors nominated by the transferee to be elected as the chairman of the listed company, and (2) it should do its best commercially to urge independent directors on the board of directors of the listed company to perform Suitable candidates with qualifications, experience and abilities required for the job.

The transaction still requires the approval of the Anti-Monopoly Bureau of the State Administration for Market Regulation and the compliance confirmation of the Shanghai Stock Exchange before the transfer of shares agreement can be handled at the Shanghai Branch of China Securities Depository and Clearing Corporation Limited.

Midea Group Co., Ltd. (SZSE:000333) completed the acquisition of 24.09% stake in Beijing Wandong Medical Technology Co., Ltd. (SHSE:600055) from Jiangsu Yuyue Technology Development Co., Ltd. and Wu Guangming on May 6, 2021.