Gelonghui, June 2, 丨 Gushengtang (02273.HK) announced that on May 31, 2024, the company's subsidiary Guangdong Gushengtang Traditional Chinese Medicine Health Technology Co., Ltd. (“Guangdong Gushengtang”) and shareholders (“seller”) of Hunan Mingyuantang Traditional Chinese Medicine Development Co., Ltd. (“Hunan Mingyuantang”) entered into an equity transfer framework contract. Based on this, Guangdong Gushengtang agreed to the acquisition, and the seller agreed to sell 100% of Hunan Mingyuantang's shares at a cost of RMB 18 million.

Hunan Mingyuantang mainly engages in traditional Chinese medicine services and drug retail services in Hunan Province. As of the date of this announcement, Hunan Mingyuantang Branch has controlled and managed two TCM outpatient clinics and a TCM retail pharmacy.