Betta Pharmaceuticals Co.,Ltd (SZSE:300558) signed the stake transfer agreement to acquire a 77.4% stake in AnewPharma from a group of shareholders for approximately CNY 370 million on February 26, 2017. Post completion of the transaction, Betta Pharmaceuticals Co.,Ltd will hold 77.4% stake in AnewPharma Company, Ltd. For the year ended December 31, 2016, AnewPharma Company, Ltd. had total assets of CNY 16.85 million, nil operating revenues, operating loss of CNY 13.97 million and net loss of CNY 10.88 million. The transaction is subject to the approval of the shareholders of Betta Pharmaceuticals Co.,Ltd and was approved by its Board on February 26, 2017. As of March 16, 2017, the transaction was approved by the shareholders of Betta Pharmaceuticals Co.,Ltd.