Guangdong SACA Precision Manufacturing Co., Ltd. (SZSE:300464) signed an agreement to acquire Shenzhen Sunvalley E-Commerce Co., Ltd. from a group of sellers for CNY 1.5 billion on June 15, 2018. Under the terms of the transaction, Guangdong SACA Precision Manufacturing Co., Ltd. will pay CNY 639.5 million in cash and will issue 111.32 million shares at CNY 8 per share as consideration. Consideration will be paid in cash, shares and combination of cash and shares. The cash consideration will be funded through a private placement of CNY 767.8 million. For the year ended December 31, 2017, Shenzhen Sunvalley E-Commerce Co., Ltd. had total assets of CNY 649.5 million, owner's equity of CNY 360.3 million, revenue of CNY 1.7 billion, operating profit of CNY 43.6 million and net profit of CNY 31.3 million. The transaction is subject to shareholders’ approval of Guangdong SACA Precision Manufacturing Co., Ltd. and approval from the China Securities Regulatory Commission (CSRC). The transaction was approved by the Board of Directors of Guangdong SACA Precision Manufacturing Co., Ltd. on June 15, 2018. The transaction was approved by the corporate counterparties as of June, 2018. As on November 7, 2018, the transaction gained conditional approval from CSRC. On December 13, 2018, the transaction was approved by CSRC. Zhou Jiannan, Zhan Zhipeng, Jiang Weichi, Huang Rongcan, Li Ao, Chu Ying and Liu Siwen of Everbright Securities Company Limited (SHSE:601788) and Lu Chunwei, Zhu Wenqian, Chen Shanshan and Fang Junqin of Lianchu Securities Co., Ltd. acted as financial advisors; Zhang Jiong, Zhang Senlin and Hu Yunyun of Shu Jin Law Firm acted as legal advisors and Hu Shaoxian, He Xiaoming and Su Xiaofeng of Pan-China Certified Public Accountants LLP acted as accountants to Guangdong SACA Precision Manufacturing Co., Ltd. Hu Zhi, Meng Honggu, and Chen Xiaowei of China United Assets Evaluation Group Co., Ltd. acted assets assessment agency for Guangdong SACA Precision Manufacturing Co., Ltd.