Huachangda Intelligent Equipment Group Co., Ltd. (SZSE:300278) agreed to acquire Dongyan Technology Development Co., Ltd and 85% stake in Shanghai Xianxing Intelligent Technology Partnership Enterprise (LP) from group of sellers on February 27, 2019. Under the terms, Huachangda Intelligent Equipment Group will acquire Dongyan Technology Development Co., Ltd from Khorgas Yingdazhi Venture Capital Co., Ltd, Ningbo Meishan Free Trade Port Area Chuyan Qingzhong Investment Management Partnership Enterprise (LP), Ningbo Meishan Free Trade Port Area Lianwei Dachen Investment Management Partnership Enterprise (LP) and Zhuhai Jianchi Investment Partnership Enterprise (Limited Partnership) and will acquire 85% stake in Shanghai Xianxing Intelligent Technology Partnership Enterprise (LP) from Beijing Zhongrong Dingxin Investment Management Co., Ltd, Dazi Dingcheng Capital Investment Co., Ltd and Chen Ze. The consideration for acquiring Dongyan Technology Development will be paid in by way of issuance of shares, convertible bonds, and cash payment. Huachangda Intelligent Equipment Group will issue shares or convertible bonds to not more than 5 specific investors to raise supporting funds. The deal is subject to approval from the shareholders of Huachangda Intelligent Equipment Group, China Securities Regulatory Commission and Still needs to submit application related to concentration of business operators to the Ministry of Commerce. The transaction has been approved by the Board of Directors of Huachangda Intelligent Equipment Group at the 21st session of the 3rd directorate and the 12th session of the company’s 3rd supervisory board. Huachangda Intelligent Equipment Group Co., Ltd. (SZSE:300278) cancelled the acquisition of Dongyan Technology Development Co., Ltd and 85% stake in Shanghai Xianxing Intelligent Technology Partnership Enterprise (LP) from group of sellers on February 27, 2020.