Shaanxi Northwest New Technology Industry Company Limited (SEHK:8258) entered into an agreement to acquire 30% stake in Shaanxi Ruijian E-Commerce Company Limited from Ding Meihua and Zhang Gangming for HKD 27.4 million on December 27, 2018. Shaanxi Northwest New Technology Industry Company Limited entered into a supplemental agreement to acquire 29% stake in Shaanxi Ruijian E-Commerce Company Limited from Ding Meihua and Zhang Gangming for HKD 27.8 million on December 30, 2018. As consideration, Shaanxi Northwest New Technology Industry Company Limited shall issue its 163 million domestic shares with Zhang Gangming and Ding Meihua each receiving 81.5 million. As per new consideration, Shaanxi Northwest New Technology Industry Company Limited shall issue its 158 million domestic shares, with Zhang Gangming receiving 81.72 million shares and Ding Meihua receiving 76.28 million shares. Pre deal, Shaanxi Ruijian E-Commerce Company Limited is owned 65% by Ding Meihua and 35% by Zhang Gangming. Upon completion, Shaanxi Ruijian E-Commerce Company Limited will be owned as to 50% by Ding Meihua, 30% by Shaanxi Northwest New Technology Industry Company Limited and 20% by Zhang Gangming. As per the supplemental agreement, Shaanxi Ruijian E-Commerce Company Limited will be owned as to 51% by Ding Meihua, 29% by Shaanxi Northwest New Technology Industry Company Limited and 20% by Zhang Gangming upon completion. As on June 30, 2018, Shaanxi Ruijian E-Commerce Company Limited has unaudited net assets of approximately CNY 44.74 million (HKD 53.03 million). The deal is subject to certain conditions. The allotment and issue of the consideration shares is not subject to approval of the shareholders of Shaanxi Northwest New Technology Industry Company Limited. If any of the conditions is not satisfied (or waived) on or before June 30, 2019 or such later date as may agreed in writing, the agreement shall be terminated. Completion shall take place on the third business day following the satisfaction or waiver (as the case may be) of the conditions (or such other date as may be agreed in writing). Shaanxi Northwest New Technology Industry Company Limited is optimistic about the acquisition. Shaanxi Northwest New Technology Industry Company Limited (SEHK:8258) completed the acquisition of 29% stake in Shaanxi Ruijian E-Commerce Company Limited from Ding Meihua and Zhang Gangming on February 1, 2019. All the precedent conditions were fulfilled.