North China Pharmaceutical Company. Ltd (SHSE:600812) agreed to acquire the remaining 51% stake in North China Pharmaceutical Group Aino Co., Ltd., 100% stake in North China Pharmaceutical Group Corporation Veterinary Co., Ltd. from North China Pharmaceutical Group Corp. for approximately CNY 250 million on April 10, 2020. North China Pharmaceutical Company. Ltd will issue 84 million shares million shares for 51% stake in North China Pharmaceutical Group Aino and for 100% stake in North China Pharmaceutical Group Corporation Veterinary. In addition, North China Pharmaceutical Company. Ltd will acquire North China Brand Series of trademark assets through the issue of 53.52 million in shares and CNY 270 million in cash. As of September 15, 2020, North China Pharmaceutical Company will issue its 84.9 million shares as consideration. The consideration shares will have a lock up period of 36 months since issuance date. North China Pharmaceutical Company will raise funds of CNY 550 million from a non-public offering of shares. If the matching funds raised are not approved for implementation or are approved but not sufficient to pay for the required monetary funds, North China Pharmaceutical Company will make up its own monetary funds or self-raised funds. In 2019, North China Pharmaceutical Group Aino had total assets of CNY 375.9 million, net assets of CNY 194.4 million, operating revenue of CNY 424.1 million and net profit of CNY 24.5 million while North China Pharmaceutical Group Corporation Veterinary had total assets of CNY 131.5 million, net assets of CNY 50 million, operating revenue of CNY 190.6 million and net profit of CNY 6.5 million. The transaction is subject to formal transaction agreement, approval by North China Pharmaceutical Company's Board and shareholders and approval by China Securities Regulatory Commission. The internal decision-making body of the counterparty of the transaction needs to approve the formal plan for the transaction. The formal plan of the transaction needs to be approved by the state-owned assets supervision and management department or its authorized institution. As on April 16, 2020, the fifth meeting of the tenth board of directors of North China Pharmaceutical Company approved the transaction. The transaction has been approved in principle by the pre-audit of the SASAC of Hebei Province. The transaction was approved by the shareholders of North China Pharmaceutical Group Aino and North China Pharmaceutical Group Corporation Veterinary. On June 29, 2020, North China Pharmaceutical Company's seventh meeting of the tenth Board of Directors approved the transaction. The shareholders of North China Pharmaceutical Company approved the transaction on July 15, 2020. On October 10, 2020, China Securities Regulatory Commission has approved the transaction. On November 6, 2020, North China Pharmaceutical Group approved the issuance of consideration shares. He Qing, Han Yu, Shi Penghang, Wu Ding, Zeng Nianhua, and Lou Yisheng of Guotai Junan Securities Co., Ltd. acted as financial advisors for North China Pharmaceutical Company. Ltd. Wang Li, Li Zhihong, Wang Yuwei, Li Hongyu, and Ding Hang of Beijing DHH Law Firm acted as legal advisor for North China Pharmaceutical Company. Ltd. Zhu Wei, Li Yu and Yang Huiwen of Jonten Certified Public Accountants Co Ltd acted as accountants for North China Pharmaceutical Company. Ltd. North China Pharmaceutical Company. Ltd (SHSE:600812) completed the acquisition of North China Pharmaceutical Group Corporation Veterinary Co., Ltd., from North China Pharmaceutical Group Corp., on December 2, 2020. North China Pharmaceutical Company. Ltd completed the acquisition of 51% stake in North China Pharmaceutical Group Aino Co., Ltd., from North China Pharmaceutical Group Corp., on December 1, 2020.