Liaoning Kelong Fine Chemical,Inc. (SZSE:300405) agreed to acquire Gainsil Semiconductor Technology (Shanghai) Co., Ltd. from a group of sellers for CNY 180 million on September 14, 2020. According to the estimated price calculation of the underlying assets, Liaoning Kelong Fine Chemical,Inc.'s proposed share payment accounted for 63.77% of the total consideration and the planned cash payment accounted for 36.23% of the total consideration. Liaoning Kelong Fine Chemical intends to raise supporting funds from no more than 35 specific investors in the form of non-public issuance of shares, the total amount shall not exceed 100% of the transaction price of the planned issuance of shares for the transaction. The number of stocks to be issued by raising supporting funds shall not exceed 30% of the company's total share capital before the issuance of shares to purchase assets. The raised matching funds are used to pay for the cash consideration, related expenses and supplementary working capital of the transaction. The amount of supplementary working capital shall not exceed 50% of the total raised matching funds or 25% of the transaction price. The transaction is subject to completion of the audit, evaluation involved in the transaction, Liaoning Kelong Fine Chemical once again will convene the board of directors to review and approve the relevant proposals of the transaction, approval of the shareholders of Liaoning Kelong Fine Chemical, approval of Shenzhen Stock Exchange and China Securities Regulatory Commission for registration. The transaction has been approved by the Board of Directors of Liaoning Kelong Fine Chemical for the transaction.