Shanghai Sanyou Medical Co., Ltd. (SHSE:688085) signed an agreement acquire 49.8% stake in Beijing Shuimu Canopy Medical Technology Co., Ltd. from Suzhou Qiming Fusion Venture Capital Partnership (Limited Partnership), Xinjiang Hongshan Optimal Venture Investment Fund Enterprise (Limited Partnership), Yingtan Haiding Investment Limited Partnership, Xiamen C&D Emerging Industries Equity Investment No. 7 Partnership (Limited Partnership) and Ding Wenjun for approximately CNY 340 million on June 3, 2021. As per terms of transaction, Shanghai Sanyou Medical Co., Ltd. will use its own funds for the acquisition. Shanghai Sanyou Medical Co., Ltd. will acquire 17.4% stake from Suzhou Qiming Fusion Venture Capital Partnership (Limited Partnership) for CNY 119.8 million, will acquire 3.8% stake from Xinjiang Hongshan Optimal Venture Investment Fund Enterprise (Limited Partnership) for CNY 26.4 million, will acquire 1.9% stake from Yingtan Haiding Investment Limited Partnership for CNY 13.2 million, will acquire 1.9% stake from Xiamen C&D Emerging Industries Equity Investment No. 7 Partnership (Limited Partnership) for CNY 13.2 million and 24.7% stake from Ding Wenjun for CNY 169.9 million. In a related transaction, Xu Nong will acquire 7.0001% stake in Beijing Shuimu Canopy Medical Technology Co., Ltd. from Cao Qun for CNY 48.1 million on June 3, 2021. Post completion, Shanghai Sanyou Medical Co., Ltd. will hold 51.8154% stake in Beijing Shuimu Canopy Medical Technology Co., Ltd. Beijing Shuimu Canopy Medical Technology Co., Ltd. will become holding subsidiary of Shanghai Sanyou Medical Co., Ltd. As on April 30, 2021, Beijing Shuimu Canopy Medical Technology Co., Ltd. reported total assets of CNY 957.1 million, net assets of CNY 1.2 billion, operating income of CNY 145.7 million and net profit of CNY 4.7 million. Transaction is approved by the board of Shanghai Sanyou Medical Co., Ltd.