Shenzhen Salubris Pharmaceuticals Co., Ltd. (“Salubris”, stock code: 002294), founded in 1998, was listed on the Stock Exchange of Shenzhen in 2009. It is a leading innovative hi-tech enterprise in China’s cardiovascular sector which has been listed in the “National Torch Plan”.

Using its own fund, the company acquired a 24.06% stake in Suzhou Genemen Biotech Co., Ltd. (“Suzhou Genemen”) at a price of RMB45mln and would inject another RMB150mln into Suzhou Genemen to raise its stake to 58%.

Besides, an 80% stake in Chengdu Jinkai Biotech Co., Ltd. (“Chengdu Jinkai”), initially held by Suzhou Genemen, was transferred to Salubris at a price of RMB46mln. Following the transference, Salubris would own 80% of Chengdu Jinkai.

A Dacheng team led by Beijing-based senior partner Li Hongqi provided comprehensive legal counsel for Suzhou Genemen and Chengdu Jinkai. The team participated in the initiation of the project, negotiations, due diligence, transaction structure design, review and revision of transaction documents and the execution of the project, while working closely with other intermediaries on the part of the acquirer.