C.Q. Pharmaceutical Holding Co., Ltd. (SZSE:000950) intends to acquire 10% stake in Chongqing Chemical and Pharmaceutical Holdings Group Finance Co., Ltd. from Chongqing Ziguang Chemical Co., Ltd. for approximately CNY 120 million on January 8, 2019. As of August 31, 2018, Chongqing Chemical and Pharmaceutical Holdings Group Finance reported total assets of CNY 3.9 billion and owners’ equity of CNY 1.1 billion. This transaction is subject to the approval of state-funded enterprises and China Banking Regulatory Commission Chongqing Office. The transaction has been approved by Board of C.Q. Pharmaceutical Holding Co., Ltd.