Harmonicare Medical Holdings Limited (SEHK:1509) agreed to acquire agreed to acquire 100% equity interests of Huisheng (Wuxi) Mother and Baby Health Management Co., Ltd. on February 22, 2021. As at the date of this announcement, Huisheng (Wuxi) Mother and Baby Health Management is wholly owned by Hibaby. The Equity Transfer Consideration is considered settled upon the Completion of Huisheng (Wuxi) Mother and Baby Health Management disposal. Upon the Completion of Huisheng (Wuxi) Mother and Baby Health Management, the Group will cease to hold any interest in Huisheng (Wuxi) Mother and Baby Health Management. Accordingly, Huisheng (Wuxi) Mother and Baby Health Management will cease to be a subsidiary of the Company and the assets and liabilities as well as the results of operation of the Huisheng (Wuxi) Mother and Baby Health Management will no longer be consolidated into the consolidated financial statements of the Group. The completion of Huisheng (Wuxi) Mother and Baby Health Management disposal shall take place within the 10 working days from the date of signing of the Final Settlement Agreement, after completing the registration with the relevant regulatory authorities.