Zhao Yunhua agreed to acquire a 90% stake in Buchang Taoyiyun Health Technology (Hangzhou) Co., Ltd. from Shandong Buchang Pharmaceuticals Co., Ltd. (SHSE:603858) for CNY 1 on June 27, 2023. Post completion, Zhao Yunhua will hold 90% stake and Tianjin Fuying Hengxian Health Technology Partnership Enterprise (L.P.) will hold 10% stake in Buchang Taoyiyun Health Technology. As of April 30, 2023, Buchang Taoyiyun Health Technology reported total assets of CNY 8.48 million and net assets of CNY -3.51 million.

The transaction is approved by the board of Shandong Buchang Pharmaceuticals and does not need to be submitted to the general meeting of shareholders for consideration. Buchang Taoyiyun has completed the industrial and commercial change registration procedures and obtained the business license renewed by the Market Supervision and Administration Bureau of Shangcheng District, Hangzhou.