Shanghai Kehua Bio-engineering Co., Ltd (SZSE:002022) agreed to acquire remaining 22.06% stake in Shanghai Kehua Industry Development Co., Ltd from Zhu Haolei and 10 other natural persons for CNY 67.2 million on June 22, 2014. The other sellers are Zhang Zhengxiu, Xu Hong, Wang Pingsheng, Sheng Zhi, Xu Yulai, Ding Haiyang, Wang Dongwei, Zhang Ruiyan, Ma Qiru and Ling Song. The equity transfer agreement was signed on June 23, 2014. After the completion of the acquisition, Shanghai Kehua Industry Development will become a wholly-owned subsidiary of Shanghai Kehua Bio-engineering Co., Ltd. For the year ended December 31, 2013, Shanghai Kehua Industry Development recorded total assets of CNY 214.93 million, net assets of CNY 208.94 million, revenues of CNY 321.36 million and net profit of CNY 28.79 million. On June 22, 2014, the Board of Directors of Shanghai Kehua Bio-engineering approved the acquisition. The transaction does not need the approval of the stockholders of Shanghai Shanghai Kehua Bio-engineering Co., Ltd.

Shanghai Kehua Bio-engineering Co., Ltd (SZSE:002022) cancelled the acquisition of remaining 22.06% stake in Shanghai Kehua Industry Development Co., Ltd from Zhu Haolei and 10 other natural persons on June 22, 2015.