Shanghai Lanhai Luohuan Investment Co., Ltd. agreed to acquire 50% stake in Shanghai Haisheng Life Financial Leasing Co. from Lanhai Medical Investment Co., Ltd. (SHSE:600896) for approximately CNY 340 million on May 13, 2018. As on July 13, 2018, Shanghai Lanhai Luohuan Investment Co., Ltd. agreed to acquire 50% stake in Shanghai Haisheng Life Financial Leasing Co. from Lanhai Medical Investment Co., Ltd. for approximately CNY 430 million. The agreement is not signed yet. For the year ended December 31, 2017, Shanghai Haisheng Life Financial Leasing Co. reported total assets of CNY 866 million, net assets of CNY 523.5 million, revenue of CNY 44.1 million, operating profit of CNY 18.2 million and net profit of CNY 13.2 million. The transaction is subject to approval from shareholders of Lanhai Medical Investment Co., Ltd. As of June 1, 2018, the transaction has been approved by the shareholders of Shanghai Lanhai Luohuan Investment Co., Ltd., Board of Lanhai Medical Investment Co., Ltd., and other shareholders of Shanghai Haisheng Life Financial Leasing Co. As of September 13, 2018, the shareholders of Lanhai Medical Investment Co., Ltd. approved the transaction. Xin Shuang and Wang Chengcong of Guotai Junan Securities Co., Ltd. acted as financial advisors, Yue Yongping and Cheng Jingjiao of Grandall Law Firm acted as legal advisors and Zhang Jian and Wang Yao of Baker Tilly China Certified Public Accountants acted as accountants to Lanhai Medical Investment Co., Ltd. Shanghai Lanhai Luohuan Investment Co., Ltd. completed the acquisition of 50% stake in Shanghai Haisheng Life Financial Leasing Co. from Lanhai Medical Investment Co., Ltd. (SHSE:600896) on November 26, 2018. The corresponding industrial and commercial registration procedures have been completed.