China Great Wall Computer Shenzhen Co., Ltd. (SZSE:000066) agreed to acquire Wuhan Zhongyuan Electronics Group Co., Ltd. from China Electronics Corporation for CNY 2.5 billion on February 25, 2016. As consideration, China Great Wall Computer Shenzhen will exchange TPV Technology Limited’s 24.32% stake for 64.98% stake in Wuhan Zhongyuan Electronics Group at a price of CNY 1.6 billion and for 35.02% stake in Wuhan Zhongyuan Electronics Group Co., Ltd, China Great Wall Computer Shenzhen Co., Ltd. will issue shares for CNY 860.9 million at a price of CNY 13.04. As of June 15, 2016, China Great Wall Computer Shenzhen Co., Ltd. agreed to acquire Wuhan Zhongyuan Electronics Group Co., Ltd. from China Electronics Corporation for CNY 2.3 billion. China Great Wall Computer Shenzhen Co., Ltd. will exchange 64.94% stake in Wuhan Zhongyuan Electronics Group Co., Ltd. for 24.32% stake in TPV Technology Limited priced at CNY 1.6 billion and for 35.06% stake in Wuhan Zhongyuan Electronics Group Co., Ltd, China Great Wall Computer Shenzhen Co., Ltd will issue 66.13 million shares as consideration. Wuhan Zhongyuan Electronics Group Co., Ltd. reported total assets of CNY 4.74 billion, net assets of CNY 1.79 billion, operating revenues of CNY 3.05 billion, operating profit of CNY 209.98 million and net profit of CNY 200 million in 2015. The deal has obtained approvals from the sellers’ internal decision-making institutions’ approval, The National Defense Science and Industry Bureau’s agreement in principle and Board of Directors of China Great Wall Computer Shenzhen Co., Ltd. The deal is also subject to second approval of China Great Wall Computer Shenzhen Co., Ltd. after the target assets’ audit and assessment work are completed, SASAC’s filing and approval of the target assets’ audit and assessment reports, SASAC’s approval, approval from shareholders of China Great Wall Computer Shenzhen Co., Ltd., Ministry of Commerce’s decision not to prohibit, CSRC’s approval and other necessary approvals. The transaction has been approved by SASAC. The shareholders’ of China Great Wall Computer Shenzhen Co., Ltd approved the transaction on March 28, 2016. Ministry of Commerce of the People's Republic of China approved the transaction. The transaction obtained the approval of the China Securities Regulatory Commission. Haitong Securities Co., Ltd. acted as the financial advisor, King & Wood Mallesons, China acted as the legal advisor, BDO China Shu Lun Pan Certified Public Accountants (Special General Partnership) and PricewaterhouseCoopers Zhong Tian LLP acted as the accountants to China Great Wall Computer Shenzhen Co., Ltd. China Great Wall Computer Shenzhen Co., Ltd. (SZSE:000066) completed the acquisition of Wuhan Zhongyuan Electronics Group Co., Ltd. from China Electronics Corporation and others on January 3, 2017.