Shanghai Topcare Medical Services Co., Ltd. (SHSE:600532) entered into framework agreement to acquire 70% stake in Shandong Ruifu Lithium Industry Co., Ltd. from Wang Mingyue, Qi Liang and Jinan Junhua. New Energy Technology Partnership (Limited Partnership) and 70% stake in Xinjiang Dongli Mining Investment Co., Ltd. from Hetian Ruifu Mining Co., Ltd. on July 29, 2022 for for CNY 3.8 billion. As of May 31, 2022 total assets were CNY 4 million and net assets were CNY 360 million.

On July 29, 2022, the transaction and related plans were reviewed and approved at the twenty-fifth meeting of the eighth board of directors of the listed company. Transaction is still subject to approval by Shandong Ruifu Lithium Industry Co., Ltd./Xinjiang Dongli Mining Investment Co's board and ahreholders. On November 30, 2022, the listed company held the 30th meeting of the eighth board of directors, which reviewed and approved the transaction draft and related proposals, and independent directors expressed independent opinions on the above proposals.

AllBright Law Offices acted as legal advisor and Asia Pacific (Group) Accounting Firm (Special General Partnership) acted as accountant for Shanghai Topcare Medical Services Co., Ltd.