Guo Yanchao signed an agreement to acquire 5% stake in Sino Medical Sciences Technology Inc. from a group of shareholders for approximately CNY 200 million.

Guo Yanchao signed an agreement to acquire 5% stake in Sino Medical Sciences Technology Inc. (SHSE:688108) from a group of shareholders for approximately CNY 200 million on December 13, 2023. Guo Yanchao will acquire 20.5 million shares at CNY 9.78 per share. Under the terms, Guo Yanchao will pay CNY 60 million within 2 days from signing of the agreement, CNY 120 million within 10 days from change of shares registration and CNY 20.49 million within 240 days from change of shares registration.

As of December 14, 2023, parties signed supplementary agreement and the offer price per share is changed to CNY 9.784 from CNY 9.78 accordingly the final transaction price is CNY 20.572 million.