Chen Xiaxin made an offer to acquire additional 56.06% stake Baida Group Co.,Ltd (SHSE:600865) for CNY 1.6 billion on January 27, 2021. Under the terms Chen Xiaxin will acquire 210.9 million shares for CNY 7.46 per share. The consideration is paid in cash. If Baida Group has ex-rights and ex-dividends from the date of the announcement of the tender offer to the expiry of the tender offer period, the tender offer price will be adjusted accordingly. The tender offer period is from February 1, 2021 to March 2, 2021. The transaction has been approved by the Board of Directors of Baida on February 4, 2021. As at September 2020, Baida Group reported total assets of CNY 2.4 billion and total common equity of CNY 2 billion. Chen Yiwen, Yang Xinqiang, Xiang Hui, Lin Xuan and Chen Cheng of China Securities Co., Ltd. acted as a financial advisor and T&C Law Firm acted as the legal advisor for Chen Xiaxin. China Industrial Securities Co.,Ltd. (SHSE:601377) acted as financial advisor to Baida Group Co.,Ltd. Chen Xiaxin completed the acquisition of an additional 3.52% stake Baida Group Co.,Ltd (SHSE:600865) for CNY 98.8 million on March 2, 2021. As a result, during the tender offer period, a total of 13.242752 million shares finally accepted the offer issued by Chen Xiaxin.