Shanghai Lechun Biotechnology Co., Ltd. sign a share transfer agreement to acquire a 14.5% stake in Advanced Sterile Solutions Biotechnology (Hangzhou) Co., Ltd. from Shanghai Changgeng Industrial Development Co., Ltd. and Zhejiang Shapuaisi Pharmaceutical Co.,Ltd. (SHSE:603168) for CNY 40.6 million on June 9, 2023. Under the terms, Shanghai Lechun Biotechnology will acquire 10% stake from Shanghai Changgeng Industrial for CNY 28 million and 4.5% stake from Zhejiang Shapuaisi for CNY 12.6 million. The consideration will be paid as 50% within 3 working days of the agreement and the remaining within 3 working days of completion.

As of March 31, 2023, Advanced Sterile Solutions reported Total assets of CNY 46.67 million and Owner’s equity of CNY 16.13 million.