Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) agreed to acquire 25% stake in Frontage Laboratories (Suzhou), Inc. from Zhu Jianguo for CNY 10 million on June 30, 2016. For year ending December 31, 2015, Frontage Laboratories reported operating revenue of CNY 6.13 million and net loss of CNY 3.04 million. As of December 31, 2015, Frontage Laboratories reported total assets of CNY 6.18 million and net liabilities of CNY 0.69 million. The deal has been approved by the Board of Zhejiang Jiuzhou Pharmaceutical.