Ningbo Sanxing Medical Electric Co.,Ltd. (SHSE:601567) agreed to acquire Nanjing Mingzhou Rehabilitation Hospital Co., Ltd. from Ningbo Kaiyun Huajing Equity Investment Partnership Enterprise (Limited Partnership) and Ningbo Zhongjing Investment Management Partnership Enterprise (Limited Partnership) for CNY 320 million on April 1, 2021. Under the term, Ningbo Kaiyun Huajing Equity Investment Partnership Enterprise (Limited Partnership) and Ningbo Zhongjing Investment Management Partnership Enterprise (Limited Partnership) will sell 70% and 30% stake of Nanjing Mingzhou Rehabilitation Hospital respectively. Ningbo Sanxing Medical Electric will pay 30% of the consideration within 15 working days after the shareholders’ approval, 40% of the consideration within 15 working days after the completion of the transfer and the remaining 30% of the consideration within 15 working days after the issuance of the 2023 audit report. As of December 31, 2020, Nanjing Mingzhou Rehabilitation Hospital reported total assets of CNY 119.09 million, net assets of CNY 82.18 million, revenue of CNY 128.57 million and net profit of CNY 20.74 million. The transaction is subject to shareholders’ approval of Ningbo Sanxing Medical Electric. The transaction was approved in the 8th meeting of Ningbo Sanxing Medical Electric's 5th directorate held on April 1, 2021.