Shanghai Aladdin Biochemical Technology Co.,Ltd. (SHSE:688179) agreed to acquire 51% stake in Shanghai Yuanye Biotechnology Co., Ltd. for CNY 180 million from Cui Yuanyuan and Tan Xiaoyong on March 18, 2024. Cui Yuanyuan of the target company will transfer 30.60% of the equity and Tan Xiaoyong will transfer 20.40% of the equity. Post the transaction, Cui Yuanyuan will hold 29.40% stake and Tan Xiaoyong will hold 19.6%.

The deal will be financed from M&A loans and other self-raised parts, including bank loans of CNY 129 million. As of January 31, 2024, Shanghai Yuanye Biotechnology reported total assets of CNY 98.96 million and net assets of CNY 69.06 million. The transaction was approved by the board of directors of Shanghai Aladdin Biochemical Technology.