Wumei Holdings, Inc. made an offer to acquire 6% stake in Yinchuan Xinhua Commercial (Group) Co., Ltd. (SHSE:600785) for approximately CNY 250 million on July 19, 2018. Under the terms of transaction, Wumei Holdings, Inc. made an offer to acquire 13.5 million shares at CNY 18.6 each. The tender offer period is from August 8, 2018 to September 6, 2018. Wumei Holdings, Inc completed the acquisition of 5.1% stake in Yinchuan Xinhua Commercial (Group) Co., Ltd. (SHSE:600785) for approximately CNY 210 million on September 6, 2018. Under the terms of transaction, Wumei Holdings acquired 11.5 million shares of Yinchuan Xinhua Commercial.