Hangzhou Yunbai Pharmaceutical Technology Co., Ltd. agreed to acquire 86.816% of stake in Shenzhen Daphne Pharmaceautical Co.,Ltdfrom from Mayinglong Pharmaceutical Group Co., LTD. (SHSE:600993), Huayi Development Co., Ltd., China Bao An (Group) (Holding) Co., Ltd and Guofa Jianfu Industrial Co., Ltd. for approximately CNY 260 million on December 14, 2022. Hangzhou Yunbai will pay CNY 4.38 per share. Prior to this transaction, Mayinglong Pharmaceutical Group, Huayi Development, China Bao An (Group) (Holding) and Guofa Jianfu Industrial held 33.0511%, 29.1825%, 18.0131% and 6.5693% stake in Shenzhen Daphne Pharmaceautical, respectively and post closing, Hangzhou Yunbai Pharmaceutical Technology will hold 86.816% stake in it.

The board of Mayinglong Pharmaceutical Group approved the transaction. As of March 20, 2023, the Mayinglong Pharmaceutical Group Co., LTD. received the "Securities Transfer Registration Confirmation" issued by China Securities Depository and Clearing Co., Ltd. and received all the equity transfer funds of CNY 99.15 million. Mayinglong Pharmaceutical Group no longer hold any interest in Shenzhen Daphne Pharmaceautical.