Beijing Chieftain Control Engineering Technology Co., Ltd. (SZSE:300430) agreed to acquire Guangzhou Longest Science & Technology Co., Ltd from a group of sellers for approximately CNY 510 million on February 2, 2016. Beijing Chieftain Control Engineering Technology Co., Ltd. signed the agreement on March 24, 2016. The consideration comprises CNY 119.2 million cash and 7.38 million shares. The sellers are Luo Yuanlong, Luo Xiaobing, Luo Xiaoping, Luo Xiaozhu, Tian Zhuang and Agile Rehab Technologies Limited. In a related deal, Beijing Chieftain Control Engineering Technology Co., Ltd. (SZSE:300430) agreed to acquire Beijing Brchoo Technology Development Co., Ltd for CNY 130 million in cash and stock. The combined consideration will be paid by cash payment of CNY 138.8 million and issuance of 9.5 million shares of Beijing Chieftain Control Engineering Technology at CNY 53.19 per share. Beijing Chieftain Control Engineering Technology Co. will raise up to CNY 308.77 million by offering shares to not more than five investors to fund the deals. As of April 26, 2017, the shares to be issued as consideration were amended to 7.39 million. The purchase price is now approximately CNY 430 million.

In 2015, Guangzhou Longest Science & Technology Co., Ltd. recorded total assets of CNY 90.8 million, net assets of CNY 78.68 million, revenue of CNY 60.34 million, and net profit of CNY 12.42 million. The transaction is subject to approval from shareholders of Beijing Chieftain Control Engineering Technology Co., Ltd and China Securities Regulatory Commission. On February 2, 2016, the shareholders of Agile Rehab Technologies Limited approved the transaction. On February 3, 2016, the Board of Guangzhou Longest Science & Technology Co., Ltd. approved the transaction. On March 24, 2016, the Board of Beijing Chieftain Control Engineering Technology Co., Ltd. approved the transaction. On April 11, 2016, the shareholders of Beijing Chieftain Control Engineering Technology Co., Ltd. approved the transaction. On June 3, 2016, China Securities Regulatory Commission conditionally approved the transaction. On January 20, 2017, China Securities Regulatory Commission approved the transaction. On March 31, 2017, the amendment was approved by the Board of Beijing Chieftain Control Engineering Technology Co., Ltd.

Southwest Securities Co., Ltd. acted as a financial advisor, Hylands Law Firm acted as a legal advisor, and Daxin Certified Public Accountants acted as an accountant for Beijing Chieftain Control Engineering Technology Co., Ltd.