Chongqing Lummy Pharmaceutical Co., Ltd. (SZSE:300006) signed the equity transfer agreement to acquire the additional 16% stake in Tibet Laimeide Pharmaceutical Co., Ltd. from Chengdu Xi Li Investment Consulting Co., Ltd. and Tibet Huiye Trading Co., Ltd. for CNY 42 million on December 17, 2018. Under the terms, Chengdu Xi Li Investment Consulting Co., Ltd. and Tibet Huiye Trading Co., Ltd. will each sell 8% stake and receive CNY 21 million each. Pre-transaction, Chongqing Lummy Pharmaceutical Co., Ltd., Chengdu Xi Li Investment Consulting Co., Ltd. and Tibet Huiye Trading Co., Ltd. respectively hold 35%, 30% and 35% stake in Tibet Laimeide Pharmaceutical Co., Ltd. and post-transaction, Chongqing Lummy Pharmaceutical Co., Ltd. will hold 51% stake in Tibet Laimeide Pharmaceutical Co., Ltd. For the year ended December 31, 2017, Tibet Laimeide Pharmaceutical Co., Ltd. had total assets of CNY 377.28 million, net assets of CNY 89.79 million, revenue of CNY 70.46 million and net profit of CNY 53.20 million. The transaction was approved by the Board of Directors of Chongqing Lummy Pharmaceutical Co., Ltd. in the 23rd meeting of 4th directorate as of December 17, 2018 and does not need shareholders' approval.