Eyebright Medical Technology (Beijing) Co., Ltd. (SHSE:688050) entered into a framework agreement to acquire a 55% stake in Jiangsu Tianyan Pharmaceutical Technology Co., Ltd. from Wenzhou Qingda Asset Management Co., Ltd., Lu Bo and Cai Ke for CNY 20 million on March 31, 2021. Under the terms, Wenzhou Qingda Asset Management Co., Ltd., Lu Bo and Cai Ke intends to transfer the equity of the target company it holds to the new transactional party and the new transactional party will transfer 18.3 million shares representing 55% stake in target company to Eyebright Medical Technology. In a related transaction, Eyebright Medical Technology will unilaterally make another capital contribution to the target company for CNY 20 million. Post completion, Eyebright Medical Technology will hold 55% stake in Jiangsu Tianyan Pharmaceutical Technology. Eyebright Medical Technology intends to use the company's own funds of CNY 40 million to acquire stake in Jiangsu Tianyan Pharmaceutical Technology. Jiangsu Tianyan Pharmaceutical Technology Co., Ltd. reported total assets of CNY 55.5 million and net assets of CNY 18.9 million as of February 28, 2021. This transaction has been reviewed and approved at the 23rd meeting of the first Board of Directors of Eyebright Medical Technology.