Shanghai Zhizhuo Enterprise Management Consulting Co., Ltd. agreed to acquire Shanghai Caiyin Biotechnology Co., Ltd. from Shanghai Hile Bio-Technology Co., Ltd. (SHSE:603718) for CNY 2 million on April 11, 2023. Under the terms, Shanghai Zhizhuo shall pay CNY 1 million within 10 days after the signing and entry into force of this agreement by bank wire transfer and the remaining within 10 days after the industrial and commercial change registration of this equity transfer. In a related transaction, Shandong Sinder Technology Co., Ltd agreed to acquire Shandong Hile Biological Products Co., Ltd. from Shanghai Hile Bio-Technology Co., Ltd. (SHSE:603718) for approximately CNY 110 million on April 11, 2023.

The transaction is approved by the board of directors of Shanghai Hile Bio and and does not need to be submitted to the company's shareholders' meeting for review. As of February 28, 2023, Shanghai Caiyin reported Total assets of CNY 0.87 million and negative Net assets of CNY 2.83 million.