Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. (SEHK:1349) entered into equity transfer agreement to acquire 31.5644 % stake in Shanghai Handu Pharmaceutical Technology Co., Limited from Hong Kong WD Pharmaceutical Co., Limited for approximately CNY 160 million on March 25, 2021. The consideration will be paid in cash by the self-owned funds of Shanghai Fudan-Zhangjiang Bio-Pharmaceutical. The transaction is subject to the obtainment of all internal (including the board of directors). Shanghai Handu Pharmaceutical Technology Co., Limited reported net loss of CNY 17.1 million for the year ending December 31, 2020 and as of December 31, 2020, Shanghai Handu Pharmaceutical Technology had total assets of CNY 33.5 million and net assets of CNY 31.9 million.