Avicopter Plc (SHSE:600038) entered into an agreement to acquire Changhe Aircraft Industry (Group) Co., Ltd. and Harbin Aircraft Industry Group Co., Ltd. from AviChina Industry & Technology Company Limited (SEHK:2357) and Aviation Industry Corporation of China, Ltd. for CNY 5.1 billion on December 23, 2022. As of January 9, 2023, This transaction has been reviewed and approved at the twenty-first meeting of the eighth board of directors of Avicopter Plc. This transaction has been approved by the General Manager Office Meeting of Aviation Industry Corporation, and this transaction has been reviewed and approved by the Board of Directors of AviChina. The transaction is subject to approval by the board of directors of AVICOPTER and the shareholders in a general meeting of AVICOPTER, competent industry governing authority(ies) and CSRC. The transaction is expected to close on February 3, 2023. As of April 14, 2023, recently State Administration of Science, Technology and Industry for National Defense approved the transaction. As of September 20, 2023, the State-owned Assets Supervision and Administration Commission of the State Council approved the transaction. As of January 6, 2024, Shanghai Stock Exchange approved the transaction. As of February 2, 2024, recently Avicopter Plc got approval from China Securities Regulatory Commission to issue shares to buy assets and raise funds. The company will issue shares to AviChina Industry & Technology Company Limited and Aviation Industry Corporation of China,Ltd. and raise CNY 3 billion.

China International Capital Corporation Limited (SEHK:3908) and AVIC Securities Co.,Ltd. acted as financial advisors to Avicopter. Jingtian & Gongcheng acted as legal advisor to Avicopter Plc (SHSE:600038). Moore Stephens Da Hua acted as accountant to Avicopter Plc (SHSE:600038).

Avicopter Plc (SHSE:600038) completed the acquisition of Changhe Aircraft Industry (Group) Co., Ltd. and Harbin Aircraft Industry Group Co., Ltd. from AviChina Industry & Technology Company Limited (SEHK:2357) and Aviation Industry Corporation of China, Ltd. on March 14, 2024.