Southern Shuanglin Bio-pharmacy Co., Ltd. (SZSE:000403) agreed to acquire an 87.39% stake in Harbin Pacific Biopharmaceutical Co., Ltd from a group of sellers for CNY 2.8 billion on May 14, 2020. Southern Shuanglin Bio-pharmacy will acquire Harbin Pacific Biopharmaceutical Co., Ltd.’s 87.39% stake in exchange for shares. As on November 10, 2020, the terms were revised and Southern Shuanglin Bio-pharmacy Co., Ltd. will issue 168.8 million shares, resulting in consideration of CNY 6.5 billion. In a related transaction, Southern Shuanglin Bio-pharmacy Co., Ltd. will acquire 100% of Ningbo Meishan Bonded Port Area Qidu Investment Partnership Enterprise (Limited Partnership) from a group of sellers. Ningbo Meishan Bonded Port Area owns 12.61% stake in Harbin Pacific Biopharmaceutical. Post completion of transactions, Southern Shuanglin Bio-pharmacy will own 100% in Harbin Pacific Biopharmaceutical Co., Ltd. Southern Shuanglin Bio-pharmacy Co., Ltd. will issue shares to not more than 35 specific investors to raise supporting funds of not more than CNY 1.6 billion. As at March 31, 2020, Harbin Pacific Biopharmaceutical had total assets worth CNY 1.3 billion and net assets worth CNY 478.3 million. The transaction is subject to The Second Approval of Southern Shuanglin Bio-pharmacy's Directorate after the Target Assets’ Audit and Assessment Work are Completed, approval of shareholders of Southern Shuanglin Bio-pharmacy's shareholders, The CSRC's and other necessary approvals. The sellers' respective approvals have been obtained, and the approval of the 22nd Meeting (Extraordinary) of Southern Shuanglin Bio-pharmacy's 8th Directorate held on May 14, 2020. As on July 1, 2020, Southern Shuanglin Bio-pharmacy Co. held the 25th Meeting of the Company’s 8th Directorate and approved the acquisition of assets through the issuance of shares and cash and raising of supporting funds. As on September 4, 2020, the 28th session of Southern Shuanglin Bio-pharmacy Co., Ltd. 8th Directorate approved the adjustment in acquisition of asset through share issuance and cash payment plan. As on November 9, 2020, the 30th session of Southern Shuanglin Bio-pharmacy Co., Ltd 8th Directorate approved the acquisition of asset through share issuance and cash payment and raising of supporting funds. As of November 24, 2020, shares of Southern Shuanglin Bio-pharmacy Co Ltd will halt trading from November 25, 2020 due to pending regulatory approval for this transaction. As of December 17, 2020, CSRC approved the deal. Guotai Junan Securities Co., Ltd. (SHSE:601211) acted as financial, Jiayuan Law acted as legal, Moore Stephens Da Hua and Da Hua Certified Public Accountants acted as accountants to Southern Shuanglin Bio-pharmacy Co., Ltd. Southern Shuanglin Bio-pharmacy Co., Ltd. (SZSE:000403) completed the acquisition of 87.39% stake in Harbin Pacific Biopharmaceutical Co., Ltd from a group of sellers on January 19, 2021.