Allmed Medical Products Co., Ltd (SZSE:002950) agreed to acquire 10% stake in Sichuan Zhenghexiang Health Pharmacy Chain Co., Ltd. from Chen Weixing, Guanghan Zhenghe Zhirong Medical Technology Service Center (Limited Partnership), Guanghan Zhenghe Zhijing Medical Technology Service Center (Limited Partnership), Zhao Xin and Kuang Zhibin for CNY 230 million on October 29, 2020. Within 60 working days from the effective date of this agreement, the sellers are responsible for signing an equity transfer agreement with the company through their respective established holding platform, going through the equity delivery procedures, and completing the transfer of 10% stake in the target to the company, corresponding to a capital contribution of CNY 10.01 million. Within 10 working days from the date of completion of the above transaction step, the target company and related shareholders will sign a capital increase agreement with the company, and go through the settlement procedures for the capital increase, and the company will commit to carry out a capital increase in the target company. After the completion of the first transaction and the second transaction, the company will finally obtain no less than 14.75% stake in the target company. As at June July 31, 2020, Sichuan Zhenghexiang had total assets of CNY 917.19 million and net assets of CNY 275.46 million. On October 29, 2020, the 15th session of the Allmed Medical's 2nd Directorate approved the proposal on the acquisition of equity and capital increase in Sichuan Zhenghexiang.