The company and all members of the board guarantee that the information disclosed is true, accurate, and complete, without false records, misleading statements, or significant omissions. Yihua Health Medical Co., Ltd. (hereinafter referred to as "the Company") held the 32nd meeting of the 8th Board of Directors on April 28, 2023, and approved the proposal regarding the performance commitment fulfillment of Qinhuyuan Group Co., Ltd. The relevant situation is announced as follows:
I. Overview of the Acquisition
On June 29, 2016, the Company held the 33rd meeting of the 6th Board of Directors and approved the proposal regarding the signing of the "Equity Acquisition Agreement of Qinhuyuan Co., Ltd." The board agreed to sign the acquisition agreement with Shanghai Pudong New Area Kangqiao Town Collective Asset Management Co., Ltd. (hereinafter referred to as "Kangqiao Assets"), Zhou Xingzeng, Xi Zhiyong, TBP Nursing Home Holdings (H.K.) Limited (hereinafter referred to as "TBP"), Shanghai Qinhuyuan Real Estate Co., Ltd. (hereinafter referred to as "Qinhuyuan Real Estate"), and Qinhuyuan Co., Ltd. (hereinafter referred to as "Qinhuyuan"). According to the acquisition agreement, the Company intends to purchase 116,660,000 shares of Qinhuyuan held by Kangqiao Assets, Zhou Xingzeng, and TBP, accounting for 58.33% of Qinhuyuan's equity, for a negotiated price of 408.31 million yuan. On April 13, 2017, the Company held the 44th meeting of the 6th Board of Directors and approved the proposal to acquire the remaining 41.67% equity of Qinhuyuan Group Co., Ltd. The board agreed to sign the acquisition agreement with Xi Zhiyong and Qinhuyuan Real Estate, intending to purchase the 41.67% equity held by them for a negotiated price of 291.69 million yuan.