Guangdong Silver Age Sci & Tech Co., Ltd. (SZSE:300221) agreed to acquire 66.2% stake in Xingke Electronics Co., Ltd. from Hu Enci, Chen Zhiyong, Xu Liming and Gao Bingyi for CNY 1.1 billion on May 18, 2016. Guangdong Silver Age Sci & Tech Co., Ltd. signed an agreement to acquire 66.2% stake in Xingke Electronics Co., Ltd. on June 14, 2016. Guangdong will pay CNY 369.9 million in cash and will issue 66.39 million shares for CNY 10.77 per share. Xingke Electronics will be wholly owned upon completion. Guangdong will be financing the deal through gross proceeds of not more than CNY 778.6 million from the placement of shares. Sincoo Electronics had total assets of CNY 701.9 million, net assets of CNY 240.75 million, sales of CNY 512.37 million and net income of CNY 50.76 million for the year ended December 31, 2015. As on May 18, 2016, the shareholders of Sincoo Electronics approved the transaction. As on June 14, 2016, the Directorate of Guangdong Silver Age Sci & Tech Co approved the deal. The transaction needs approvals from the shareholders’ meeting of Guangdong Silver Age Sci & Tech Co and CSRC. As on July 13, 2016, the shareholders of of Guangdong Silver Age Sci & Tech Co approved the deal. As on August, 18, 2016, Guangdong Silver Age Sci & Tech Co’s application for reviewing the deal was suspended by CSRC. Zhong De Securities Company Limited acted as financial advisor, Grandway Law Offices acted as legal advisor and BDO China Shu Lun Pan Certified Public Accountants acted as auditor to Guangdong Silver Age Sci & Tech Co. As of October 25, 2016, the transaction was conditionally approved by CSRC. As of January 5, 2017, the transaction was approved by the CSRC. Guangdong Silver Age Sci & Tech Co., Ltd. (SZSE:300221) completed acquisition of additional 66.2% stake in Xingke Electronics Co., Ltd. from Hu Enci, Chen Zhiyong, Xu Liming and Gao Bingyi on January 13, 2017.