Hubei Forbon Technology Co.,Ltd. (SZSE:300387) singed an Equity Transfer Agreement to acquire a 70% stake in Xiangyu Biotechnology (Yueyang) Co., Ltd. from Hunan Xiangyu Technology Co., Ltd. for CNY 87.5 million on December 10, 2021. The acquisition will be completed in tranches as 35%, 24.5%, 7% and 3.5%. Following completion of second tranche, Xiangyu Biotechnology will become a holding subsidiary of Hubei Forbon Technology.

Hubei Forbon Technology completed the acquisition of first tranche of 35% stake in Xiangyu Biotechnology from Hunan Xiangyu Technology on January 24, 2022.