Beijing Shengtong Printing Co., Ltd (SZSE:002599) agreed to acquire Beijing ROBOROBO Education Technology Co., Ltd. from Beijing Dongfang Zhuoyong Investment Management Co., Ltd., Beijing Zhenge Tianchuang Equity Investment Center (Limited Partnership) and five individuals for approximately CNY 430 million on April 27, 2016. Beijing Shengtong Printing Co., Ltd signed acquisition of assets through the issuance of shares and cash agreement with Beijing Dongfang Zhuoyong Investment Management Co., Ltd and Beijing Zhenge Tianchuang Equity Investment Center (Limited Partnership). Beijing Shengtong will issue 15.29 million A shares at CNY 26.12 per share and pay CNY 30.53 million as consideration. Beijing Shengtong Printing will issue 13.62 new shares at the price of CNY 30.33 per share, through private placement, to raise up to CNY 413.1 million and part of the proceeds raised through private placement will be used to pay the cash consideration in the acquisition. As of December 31, 2015 Beijing ROBOROBO Education Technology Co., Ltd. reported total assets of CNY 93.53 million, net assets of CNY 9.49 million, revenue of CNY 90.81 million and net profit of CNY 7.07 million. The shareholders of Beijing Dongfang Zhuoyong Investment Management Co., Ltd. and Beijing Zhenge Tianchuang Equity Investment Center (Limited Partnership) approved the transaction. On April 27, 2016 the shareholders of Beijing ROBOROBO Education Technology Co., Ltd. approved the transaction. The Board of Directors of Beijing Shengtong Printing Co., Ltd approved the transaction on April 28, 2016. The transaction is subject to approval of shareholders of Beijing Shengtong Printing Co., Ltd and CSRC approval. Shareholders of Beijing Shengtong Printing Co., Ltd approved the transaction on May 17, 2016. On November 23, 2016, the China Securities Regulatory Commission Mergers and Acquisitions Committee of Listed Companies held its 2016 868th session and unconditionally approved the Acquisition of assets through the issuance of shares and cash payment, and raising of supporting funds. On December 28, 2016, Beijing Shengtong Printing Co., Ltd received the approval document from the China Securities Regulatory Commission. Huatai United Securities Co., Ltd. acted as financial advisor, Dacheng Law Offices acted as legal advisor and BDO China Shu Lun Pan Certified Public Accountants acted as accountant to Beijing Shengtong Printing Co., Ltd. Beijing Shengtong Printing Co., Ltd (SZSE:002599) completed acquisition of Beijing ROBOROBO Education Technology Co., Ltd. from Beijing Dongfang Zhuoyong Investment Management Co., Ltd., Beijing Zhenge Tianchuang Equity Investment Center (Limited Partnership) and five individuals for approximately CNY 640 million on January 16, 2017. Beijing Shengtong Printing Co., Ltd issued 15.31 million shares and CNY 30.53 million cash. Beijing Shengtong Printing Co., Ltd will raise net proceeds of CNY 293.53 million for the acquisition.