Qingdao Vland Biotech INC. (SHSE:603739) signed a share transfer agreement to acquire a 51% stake in Qingdao RBT Biotechnology Co., Ltd. from Qingdao Jurun Management Consulting Partnership (Limited Partnership), Qingdao Gerunpu Management Consulting Partnership (Limited Partnership) and other individual shareholders for CNY 91.8 million on July 20, 2023. Under the terms, Qingdao Vland Biotech will pay 60% consideration within 3 working days from the date of completing the industrial and commercial change and the remaining 40% equity transfer payment subject to performance commitment in 2023, 2024, and 2025, to be paid every next year. As part of the transaction, Qin Wei will sell 22% stake, 6.25% by Qin Qilong, 4.25% by Zhang Xiaodong, 2% by Chen Qiang, 9% by Qingdao Jurun Management Consulting Partnership and 7.5% by Qingdao Gerunpu Management Consulting. As of March 31, 2023, Qingdao RBT Biotechnology reported total assets of CNY 83.2244 million and net assets of CNY 56.4629 million. The transaction is approved by the board of Qingdao Vland Biotech and does not need to be submitted to the general meeting of shareholders for consideration.

Qingdao Vland Biotech INC. (SHSE:603739) completed the acquisition of 51% stake in Qingdao RBT Biotechnology Co., Ltd. from Qingdao Jurun Management Consulting Partnership (Limited Partnership), Qingdao Gerunpu Management Consulting Partnership (Limited Partnership) and other individual shareholders on August 16, 2023.