Shanghai Fosun Pharmaceutical Co., Ltd. entered into equity transfer agreement to acquire the remaining 49% stake in Shanghai Futuo Biotech Development Co., Ltd. from Shanghai Fosun Health Industry Holding Company Limited for approximately CNY 400 million.

Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (SHSE:600196) entered into equity transfer agreement to acquire the remaining 49% stake in Shanghai Futuo Biotech Development Co., Ltd. from Shanghai Fosun Health Industry Holding Company Limited for approximately CNY 400 million on July 29, 2022. The consideration will be paid in cash and Shanghai Fosun Pharmaceutical intends to settle the consideration for the acquisition with self-raised funds. Upon the completion of the acquisition, equity interest in Shanghai Futuo Biotechheld by Shanghai Fosun Pharmaceutical will increase from 51% to 100%.

As at March 31, 2022, the unaudited total assets of Shanghai Futuo and unaudited net assets attributable to owners of parent amounted to approximately CNY 490 million and approximately CNY 500 million respectively.