KPC Pharmaceuticals,Inc (SHSE:600422) agreed to acquire 51% stake in China Resources Kunming Shenghuo Pharmaceutical Co., Ltd. from China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. (SZSE:000999) for CNY 1.8 billion on June 7, 2024. The transaction will be financed through self-raised funds. For the period ending December 31, 2023, China Resources Kunming Shenghuo Pharmaceutical Co., Ltd. reported total revenue of CNY 750.69 million and net income of CNY 202.65 million.

As of December 31, 2023, China Resources Kunming Shenghuo Pharmaceutical Co., Ltd. reported total assets of CNY 1.25 billion and total common equity of CNY 995.12 million. The transaction has been approved by the board of KPC Pharmaceuticals. The proposal needs to be submitted to the shareholders' meeting for deliberation.