Shaoxing Yiyuan Biological Pharmaceutical Partnership Enterprise (Limited Partnership) agreed to acquire 6.5% stake in Zhejiang Changhai Medicine Co., Ltd. from Zhejiang Medicine Co., Ltd. (SHSE:600216) for CNY 20.5 million on June 23, 2020. Shaoxing Yiyuan Biological Pharmaceutical Partnership Enterprise (Limited Partnership) will pay 50% before July 15, 2020, and 50% before December 31, 2020. For the year ended December 31, 2019, Zhejiang Changhai Medicine Co., Ltd. reported total assets of CNY 1 billion, net assets of CNY 303.9 million, total revenues of CNY 94.1 million and net loss of CNY 105.8 million. This has been approved in the 11th Meeting of the Company’s 8th Directorate held on June 23, 2020, and does not need the Shareholders’ Approval.