TianJin Motor Dies Co., Ltd. (SZSE:002510) agreed to acquire Nantong Chaoda Machinery and Technology Co., Ltd. from seven sellers for approximately CNY 840 million on December 2, 2016. The consideration comprises issuance of 129.2 million shares of TianJin Motor Dies Co., Ltd. Under the terms, one of the sellers, Nantong Zhongda Investment Management Center (Limited Partnership) will sell 5.6% stake and receive 7.1 million shares. For the year ended December 31, 2015, Nantong Chaoda Equipment Co.,Ltd. reported total assets of CNY 421.5 million, revenues of CNY 242.2 million, operating profit of CNY 51.9 million, net income of CNY 47.3 million and net assets of CNY 278.4 million.

The deal has obtained approval from internal decision-making body of Nantong Zhongda Investment Management Center (Limited Partnership), shareholders of Nantong Chaoda Machinery and Technology Co., Ltd., Board of Directors and supervisory board of TianJin Motor Dies Co., Ltd. The deal requires further approval from shareholders of TianJin Motor Dies Co., Ltd. and CSRC. The Extraordinary General Meeting of TianJin Motor Dies Co., Ltd. seeking approval will take place on December 19, 2017. On December 19, 2017, the shareholders approved the deal.

China Investment Securities Company Limited acted as financial advisor, Global Law Office acted as legal advisor and Jiangsu Talent CPA Co., Ltd. acted as accountant for TianJin Motor Dies Co., Ltd.