LBX Pharmacy Chain Joint Stock Company (SHSE:603883) agreed to acquire remaining 35% stake in Zhenjiang Huakang Pharmacy Chain Co., Ltd. from Hu Jianzhong for CNY 36.3 million on July 16, 2021. The purchase price is payable in cash. As part of transaction, the transfer of creditor's rights and debts will not be involved. In related transactions, LBX Pharmacy Chain Joint Stock Company agreed to acquire remaining 49% stake in Jiangsu Baijiahui Suhe Pharmacy Chain Co., Ltd. and Taizhou Longtaiyuan Pharmaceutical Chain Co., Ltd. Post-closing, LBX Pharmacy Chain Joint Stock Company will hold 100% stake in Zhenjiang Huakang Pharmacy Chain Co., Ltd. The transaction is subject to approvals from the shareholders of LBX Pharmacy Chain Joint Stock Company and other possible approvals. On July 16, 2021, the transaction was approved unanimously by the Board of Directors of LBX Pharmacy Chain Joint Stock Company. As of August 20, 2021, shareholders of LBX Pharmacy Chain Joint Stock Company has approved the transaction. Ding Shaobo of Hunan Qiyuan Law Firm acted as the legal advisor, Li Dan of PricewaterhouseCoopers Zhongtian Certified Public Accountants (Special General Partnership) and Hu Shaoxian of Pan-China Certified Public Accountants acted as an accountant, Wei Qinghua of Dongxing Securities Co., Ltd. acted as the financial advisor and China Swiss World Union Assets Appraisal Group Co., Ltd. and Hu Jiahao, He Yuanquan and Xie Songsha of Zhongrui Shilian Assets Appraisal Group Co., Ltd. acted as the appraisers for LBX Pharmacy Chain Joint Stock Company.