Qingdao Huilong Huaze Investment Co., Ltd. agreed to acquire 7.98% stake in Hangzhou TianMuShan Pharmaceutical Enterprise Co.,Ltd (SHSE:600671) from Yongxin Huarui Cultural Development Co., Ltd. for CNY 90 million on August 18, 2023. In similar transaction Qingdao Yuanjia Medical Treatment Technology Co., Ltd. agreed to acquire 12.36% stake in Hangzhou TianMuShan Pharmaceutical Enterprise Co.,Ltd (SHSE:600671) from Yongxin Huarui Cultural Development Co., Ltd. for CNY140 million. Qingdao Laoshan District Finance Bureau and Qingdao State-owned Assets Supervision and Administration Commission, approved for Huilong Huaze to acquire 9,720,000 shares in Hangzhou TianMuShan from Yongxin Huarui.