Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company (SZSE:300111) agreed to acquire 60% stake in Zhejiang Better Pharmaceuticals Co., Ltd. from Shaoxing Sunflower Investments Co., Ltd. for approximately CNY 360 million on April 25, 2019. Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company (SZSE:300111) signed a share purchase agreement to acquire 60% stake in Zhejiang Better Pharmaceuticals Co., Ltd. from Shaoxing Sunflower Investments Co., Ltd. on May 21, 2019. Payment will be done in cash and by issuing shares. Payment must be completed within 40 days since completion of delivery of underlying equity. For the year ended December 31, 2018, Zhejiang Better Pharmaceuticals Co., Ltd. has total assets of CNY 404 million, owners equity of CNY 308 million, operating income of CNY 243 million, operating profit of CNY 40.4 million and net profit of CNY 36 million. Transaction is subject to shareholders approval of Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company. The transaction was approved on April 25, 2019 by the shareholders’ meeting of Shaoxing Sunflower Investments Co., Ltd. and Board of Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company. On May 21, 2019, the transaction was approved by Board of Directors of Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company. On June 6, 2019, the transaction was approved by shareholders of Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company. Luo Yunxiang, Zhao Hua, Huang Jie, Yang Yi, Liu Yujun, Zhang Ying, Shao Wenxi and Shen Yining of Zheshang Securities Co., Ltd. acted as financial advisor, Zhang Jianxin, Yang Jinxiao and Zheng Fang of BDO SHU LUN PAN Certified Public Accountants (Special General Partnership) acted as auditors and Shi Xueyuan and Dai Qiyun of Grandall Lawyer (Hangzhou) Office acted as legal advisers for Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company in the transaction. Zhejiang Sunflower Light Energy Science & Technology Limited Liability Company (SZSE:300111) completed the acquisition of 60% stake in Zhejiang Better Pharmaceuticals Co., Ltd. from Shaoxing Sunflower Investments Co., Ltd. on June 21, 2019.