Laobaixing Pharmacy Chain Joint Stock Company (SHSE:603883) signed a conditional share transfer agreement to acquire the remaining 49% stake in Laobaixing Pharmacy Chain (Chenzhou) Co., Ltd from Li Lin and Guan Jingling for approximately CNY 160 million on November 18, 2015. Under the terms, Li Lin is selling 31.85% stake and Guan Jingling is selling 17.15% stake in Laobaixing Pharmacy Chain (Chenzhou) Co., Ltd. In related transactions, Laobaixing Pharmacy Chain Joint Stock Company (SHSE:603883) signed a conditional share transfer agreement to acquire the remaining 49% stake in Laobaixing Pharmacy Chain (Guangxi) Co., Ltd from Li Lin, Guan Jingling and Cao Bin. Laobaixing Pharmacy Chain Joint Stock Company (SHSE:603883) also signed a conditional share transfer agreement to acquire the remaining 49% stake in Laobaixing Pharmacy Chain (Tianjin) Co., Ltd from Li Lin and Guan Jingling. The consideration will be funded from own funds. As of December 31, 2014, Laobaixing Pharmacy Chain had total assets of CNY 48.67 million, owner’s equity of CNY 24.50 million, revenue of CNY 125.75 million, operating profit of CNY 20.68 million and net profit of CNY 15.50 million. Laobaixing Pharmacy Chain Joint Stock Company’s Directorate approved the transaction. The transaction is subject to approval by the shareholders of Laobaixing Pharmacy Chain Joint Stock Company. On December 24, 2015, Laobaixing Pharmaceutical Chain’s shareholders approved the deal. As on October 20, 2016, the transaction has been approved by the shareholders of Laobaixing Pharmacy Chain Joint Stock Company in extraordinary meeting. Hengtai Changcai Securities Co., Ltd. acted as financial advisor, Tian Yuan Law Firm acted as legal advisor while PricewaterhouseCoopers Zhong Tian LLP acted as accountant for Laobaixing Pharmacy Chain Joint Stock Company. Laobaixing Pharmacy Chain Joint Stock Company (SHSE:603883) completed the acquisition of remaining 49% stake in Laobaixing Pharmacy Chain (Chenzhou) Co., Ltd from Li Lin and Guan Jingling on November 24, 2016.