China Health Group Limited (SEHK:673) entered into framework agreement to acquire 67% stake in a hospital located at Songgang Town, Baoan District, Shenzhen on July 5, 2017. China Health Group will also acquire operating right of a nursing home located at Songgang Town, Baoan District. The total consideration for the stake in hospital and the operating rights for the nursing home shall be approximately CNY 120 million to be satisfied in cash and/or promissory notes to be issued by China Health Group. The consideration and payment terms are subject to further negotiations and are to be finalized in the definitive agreement. The transaction is subject to the entering into of the definitive agreement, and neither party to the framework agreement has any legal obligation to consummate the transaction unless and until the definitive agreement is entered into. Definitive agreement will be entered into within 60 days from the date of the framework agreement (the “exclusivity period”). The framework agreement shall be terminated on the earlier of the end of the exclusivity period; and the entering into of the definitive agreement. On September 5, 2017, the exclusivity period (long stop date) was extended to October 9, 2017. China Health Group Limited (SEHK:673) cancelled the framework agreement to acquire 67% stake in a hospital located at Songgang Town, Baoan District, Shenzhen on October 9, 2017.