Shanghai Hile Bio-Technology Co., Ltd. (SHSE:603718) intends to acquire 40% stake in Yangling Jinhai Biotechnology Co., Ltd. from Biogenesis Bago S.A. and Biogénesis Bagó Uruguay S.A. for CNY 56 million on March 15, 2021. Upon completion, Biogenesis Bago and Biogénesis Bagó Uruguay will no longer hold any shares in Yangling Jinhai. In a related transaction, Shanghai Hile Bio-Technology and Shanghai Runling Investment Partnership plan to invest CNY 85 million in Yangling Jinhai through a private placement transaction. Post completion of all transactions, Shanghai Hile Bio-Technology’s shareholding will increase from 55% stake to 76.07% stake in Yangling Jinhai. For the year ended December 31, 2020, Yangling Jinhai had total assets of CNY 390 million, owner's equity of CNY -241 million, revenues of CNY 54 million, operational profit of CNY 43 million and net loss of CNY 90 million. The transaction has been deliberated and approved at the 23rd meeting of the third Board of Directors of Shanghai Hile Bio-Technology held on March 15, 2021. The transaction is expected to be completed no later than May 31, 2021.