But'one Information Corporation, Xi'an (SHSE:600455) agreed to acquire Nanjing Xinchuanhui Electronic Technology Co., Ltd from Zhao Guoan, Liu Xin, Xue Linqiang and Feng Ningning for CNY 350 million in cash and stock on January 19, 2016. But'one Information Corporation, Xi'an signed an agreement to acquire Nanjing Xinchuanhui Electronic Technology Co., Ltd from Zhao Guoan, Liu Xin, Xue Linqiang and Feng Ningning for CNY 350 million in cash and stock on January 22, 2016. Zhao Guoan will sell 93.77% stake for CNY 328.19 million, Liu Xin will sell 3.51% stake for CNY 12.27 million, Xue Linqiang will sell 2.34% stake for CNY 8.18 million and Feng Ningning will sell 0.39% stake for CNY 1.36 million. Under the terms of the deal, there is a cash payment of CNY 60 million and rest CNY 290 million will be paid through issuance of 7.09 million shares of But'one Information. But'one Information will conduct a private placement of CNY 330 million for cash payment and financing funded projects. Of the proceeds CNY 60 million shall be used to pay the cash consideration in the transaction. Nanjing Xinchuanhui Electronic Technology Co., Ltd. reported total assets of CNY 32.85 million, total liabilities of CNY 18.31 million, total equity attributable to the shareholders’ of the parent company of CNY 14.54 million, operating revenues of CNY 31.98 million, total profit of CNY 11.36 million and net profit attributable to the shareholders’ of the parent company of CNY 9.55 million in 2015. The transaction is subject to obtaining the filing by the State-owned Assets Supervision and Administration Commission of Xi’an City of Nanjing Xinchuanhui Electronic Technology's asset’s appraisal result as confirmed in the appraisal report, second approval of directorate, approval of State-owned Assets Supervision and Administration Commission of Xi'an City, approval of China Securities Regulatory Commission and approval of shareholders’ of But'one Information Corporation. On January 19, 2016, the shareholders' of Nanjing Xinchuanhui Electronic Technology Co., Ltd agreed to the transaction. On January 20, 2016, the Board of But'one Information Corporation approved the transaction. As on April 19, 2016, But'one Information Corporation received Shanxi Province State-owned Assets Supervision and Administration Commission’s approval on the acquisition. As on April 22, 2016, the shareholders of But'one Information Corporation disapproved the deal. Southwest Securities Company Limited acted as the financial advisor to But'one Information Corporation. But'one Information Corporation, Xi'an (SHSE:600455) cancelled the acquisition of Nanjing Xinchuanhui Electronic Technology Co., Ltd from Zhao Guoan, Liu Xin, Xue Linqiang and Feng Ningning on September 12, 2016.