Yintai Retails Co., Ltd. agreed to acquire Kaiyuan Commercial Co., Ltd. from Xi'an International Medical Investment Company Limited (SZSE:000516) for CNY 3.4 billion on March 30, 2018. Out of the consideration, Kaiyuan Commercial Co., Ltd. 10% will be paid within 5 days of agreement and balance after completion. As of December 31, 2017, Kaiyuan Commercial Co., Ltd. reported total assets of CNY 1.9 billion and net assets of CNY 497.5 million. The deal is subject to approval from shareholders of Xi'an International Medical Investment Company Limited due on April 20, 2018. On March 30, 2018, Board of Directors of Xi'an International Medical Investment Company Limited and Sanjiang Holdings Co., Ltd. approved the deal. China Securities Co., Ltd. acted as financial advisor for Xi'an International Medical Investment Company Limited.