Lbx Pharmacy Chain Joint Stock Company(603883) announced that the company plans to acquire 719643% equity of Hunan Huairen Great Health Industry Development Co., Ltd. for 1637188434 yuan (including loan). After the completion of this transaction, Lbx Pharmacy Chain Joint Stock Company(603883) will hold 761199% equity of the target company. The target company is the most influential retail chain drugstore in Western Hunan, with sales of 1.402 billion yuan in 2020; Now it has more than 660 direct drugstores, which are distributed in Huaihua, Xiangxi Autonomous Prefecture, Shaoyang, Zhang Jia Jie Tourism Group Co.Ltd(000430) and other Western Hunan regions and Guizhou.
The company announced on the same day that as of March 6, 2022 (the day when the company held the 13th meeting of the Fourth Board of directors), the seller had not completed the agreed obligations of asset stripping and underlying equity delivery. The seller has seriously breached the contract. In order to safeguard the overall interests of the company, the company decided to terminate the transaction agreement and terminate the acquisition of 51% equity of Hebei Huatuo pharmacy pharmaceutical chain Co., Ltd. in accordance with the equity acquisition agreement.
