Qingdao Ocean Innovative Products Investment Fund Co., Ltd. and Qingdao Ocean New Kinetic Energy Products Investment Fund (Limited Partnership) agreed to acquire 67% stake in CP Pharmaceutical (Qingdao) Co., Ltd from Sino Biopharmaceutical Limited (SEHK:1177) for CNY 1.8 billion on February 6, 2024. Upon completion of the disposal, Sino Biopharmaceutical will continue to hold a 26% interest in CP Pharmaceutical (Qingdao). The transaction is conditional upon CP Qingdao has completed the industrial and commercial registration or filing procedures for the changes in shareholders of CP Qingdao, the Purchasers have obtained the necessary approvals, consents and filings from the relevant government departments and has passed antitrust review, the key employees of CP Qingdao identified in the agreement have not tendered resignation and CP Qingdao has resolved that the declared and unpaid dividend will be retained by CP Qingdao to continue the support of CP Qingdao?s future innovative business development.