Suzhou Kingswood Printing Ink Co., Ltd. (SZSE:300192) signed the intentional cooperation agreement to acquire remaining 50.17% stake in Shaanxi Longmen Education Technology Co.Ltd from a group of sellers for approximately CNY 810 million on October 9, 2018. As of June, 2019, Suzhou Kingswood Printing Ink Co., Ltd. signed an asset acquisition agreement to acquire remaining 50.16% stake in Shaanxi Longmen Education Technology Co.Ltd from a group of sellers. The sellers include Ma Liangming, Ming Min, Dong Bing, Ma Liangcai, Fang Ruiming, Xu Ying, Beijing Yiyou Technology Co., Ltd., Fortune Securities Co., Ltd., Hongta Securities Co., Ltd., Guodu Securities Co., Ltd., Shanghai Yizhan Information Technology Center (general partnership), Tian Shanshan, Qi Yong, Xinyuzhi Baiyang Investment Management Center (Limited Partnership) and Sun Shaowen. Total transactional price is CNY 812.9 million. 35.71% of the price, CNY 290.2 million, will be paid by issuing shares, a 36.90% of the price, CNY 300 million, will be paid by issuing corporate bonds and 27.39% of the price, CNY 222.6 million, will be paid in cash. Prior to the transaction, Suzhou Kingswood Printing Ink Co., Ltd. held 49.76% stake and after the transaction, Suzhou Kingswood Printing Ink Co., Ltd. will hold 99.93% stake in Shaanxi Longmen Education Technology Co.Ltd. Ma Liangming is selling his 27.33% stake, Ming Min will sell 8.09% stake, Dong Bing will sell 6.07% stake, Ma Liangcai will sell 2.36% stake, Fang Ruiming will sell 1.07% stake, Xu Ying will sell 1.19% stake, Fortune Securities Co.,Ltd will sell 0.81% stake, GuoDu Securities Co., Ltd., Investment Arm will sell 0.75% stake, Hongta Securities Co., Ltd., Investment Arm will sell 0.80% stake, Shanghai Yizhan Information Technology Co., Ltd. will sell 0.72% stake and Xinyu Zhibaiyang Investment Management Center (Limited Partnership) will sell 0.0039% stake in Shaanxi Longmen Education Technology Co.Ltd. Suzhou Kingswood Printing Ink Co., Ltd. intends to carry out private placement to raise CNY 300 million, the parts of proceeds of which will be used to fund the transaction. The transaction still needs to fulfill the necessary internal decision-making and approval procedures. The transaction plan has been reviewed and approved at the thirteenth meeting of the fourth board of Directors of the Suzhou Kingswood Printing Ink Co., Ltd. The transaction is subject to approval of Suzhou Kingswood Printing Ink Co., Ltd. shareholders, China Securities Regulatory Commission. The target company needs to complete its delisting of the New Third Board and changed into a limited liability company. Shaanxi Longmen Education Technology Co.Ltd needs to obtain approval and filing (if necessary) from the Ministry of Commerce regarding foreign investors' strategic investment in listed companies and is also subject to other related approvals. On November 6, 2019, China Securities Regulatory Commission unconditionally approved the transaction. As of November 29, 2019, the transaction was approved by the first extraordinary shareholders of Suzhou Kingswood Printing Ink Co., Ltd and has also been approved by the seller's internal decision-making body. Chen Song, Yang Yilun, Kong Yinghao and Zhou Jie of Haitong Securities Co., Ltd. acted as financial advisor to Suzhou Kingswood Printing Ink Co., Ltd. Li Qiang, Xu Hang and Xu Zhihao of Grandall Lawyer acted as legal advisor to Suzhou Kingswood Printing Ink Co., Ltd. Zhu Jiandi, Zhu Haiping and Lin Wenjun of BDO China SHU LUN PAN Certified Public Accountants LLP acted as accountants to Suzhou Kingswood Printing Ink Co., Ltd.