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. Yintai Retails Co., Ltd. completed the acquisition of Kaiyuan Commercial Co., Ltd. from Xi'an International Medical Investment Company Limited (SZSE:000516) on April 27, 2018. Under the transaction, first installment of CNY 340 million has been paid on May 8, 2018, second installment of CNY 2.7 billion will be paid on May 3, 2018 and remaining 10% of the transactional price is still pending.