Beijing Cuiwei Tower Co., Ltd. (SHSE:603123) intends to acquire Beijing Haike Rongtong Payment Service Corp from a group of shareholders for CNY 2.1 billion on November 21, 2019. As of December 12, 2019, Beijing Cuiwei Tower Co., Ltd. intends to acquire 98.68% stake in Beijing Haike Rongtong Payment Service Corp from Beijing Chuanyi Kongjian Television Culture Development Co., Ltd., Beijing Leiming Capital Management Co., Ltd, Beijing Haidian Technology Development Co., Ltd., Beijing Zhongheng Tianda Technology Development Co., Ltd., Beijing Huiying Gaoke Investment Management Co., Ltd and 102 individuals for CNY 2.1 billion. Under the terms, Beijing Cuiwei Tower Co., Ltd. Will issue 220.5 million shares and pay cash consideration of CNY 586 million. As of July 1, 2020, revised the deal terms and Beijing Cuiwei Tower Co., Ltd. intends to acquire 98.29% stake in Beijing Haike Rongtong Payment Service Corp from Beijing Chuanyi Kongjian Television Culture Development Co., Ltd., Beijing Leiming Capital Management Co., Ltd, Beijing Haidian Technology Development Co., Ltd., Beijing Zhongheng Tianda Technology Development Co., Ltd., Beijing Huiying Gaoke Investment Management Co., Ltd and 102 individuals for CNY 1.95 billion. Under the terms, Beijing Cuiwei Tower Co., Ltd. will pay CNY 1.36 billion in shares and pay cash consideration of CNY 583.5 million. The group of shareholders includes, Wu Jing, Jiang Congwe, Beijing Chuanyi Kongjian Television Culture Development Co., Ltd., Beijing Leiming Capital Management Co., Ltd, Beijing Haidian Technology Development Co., Ltd., Beijing Zhongheng Tianda Technology Development Co., Ltd., Beijing Huiying Gaoke Investment Management Co., Ltd, Huang Wen, Zhang Wenzhi, Sun Ruifu, Wang Xin, Ding DaliZhang Yuchan, Ren Sichen, Meng Lixin, Li Fenghui, Tian Jun, Chu Qingnian, Wu Haoming, Wu Jiang, Zhao Yu, Chen Ge, Yang Man, Hu Xiaosong, Hou Yunfeng, Liu Lantao, Li Ban, Feng Qiuju, Gao Wei, Li Xiangshan, Ling Fan, Jia Guanglei, Zhang Wenling, Qi Wenhua, Li Guiying, Li Jun, Song Xiaolei, Tan Yang, Zhang Shaoquan, Yang Huijun, Ding Zhicheng, You Yong, Li Changzhen, Zhu Yinping, Li Si, Wang Xia, Cheng Chunmei, Lu Tongtong, Jiangzhong, Xin Xiaoqiu, Pang Hongjun, Mao Yuping, Yang Wei, Zhang Yi, Zhang Ji, Zhang Yinan, Chen Jianguo, Zhang Jian, Zhao Baogang, Sun Dongbo, Feng Xiaogang, Liu Zheng, Zhang Ji, Li Lin, Song Zhengang, Wang Hua, Zhong Min, Gao Xiumei, Li Hongtao, Lu Guoqiang, Xu Kai, Zhang Baokun, Lan Shaoguang, Zhuang Li, Yu Jing, Xing Yingna, Zhang Wei, Feng Lixin, Zhu Xiuwei, Zhang Xiaotong, Zhang Ran, Zhang Ting, Wu Jinzhong, Sun Xingfu, Li Lan, Wu Shenming, Sheng Xiyong, Li Ningning, Zhang Lingxin, Li Wengui, Zhu Kedi, Sun Rongjia, Huang Qiong, Chen Peihuang, Tian Fan, Dong Jianwei, Zhang Xiaoying, Lu Yang, Ma Xiaoning, Wang Weixing, Dong Xiaoli, Lu Jianying, Lu Jianping, Lu Jianrong, He Xuepeng and Jin Lihui. The transaction will be funded by raising supporting funds of not more than CNY 1.3 billion by issuing not more than 30% of total share capital to not more than 35 investors. As at December 31, 2018, Beijing Haike reported total assets of CNY 2 billion and net assets of CNY 622 million. For the year ended December 31, 2018, Beijing Haike reported revenue of CNY 3 billion and net profit of CNY 144.7 million. The transaction is subject to regulatory approval including approvals from Chinese Securities Regulatory Commission, other possible approvals required by the law, People's Bank of China and other approvals, antitrust approval, approval by Board and shareholders of Beijing Cuiwei Tower Co., Ltd. The transaction has been approved by the Board of Beijing Cuiwei on November 21, 2019. On December 12, 2019, Board of Directors of Beijing Cuiwei Tower Co., Ltd. has approved the revised plan of transaction. The transaction has been approved by Haidian State-owned Assets Center and counterparties of the transaction have fulfilled their respective examination and approval procedures to consider and participate in the transaction. As of April 14, 2020, Beijing State-owned Assets Supervision and Administration Commission of the State Council provided its approval for acquisition through the issuance of shares and raising of supporting funds. As on April 21, 2020, shareholders of Beijing Cuiwei Tower Co., Ltd. at the first extraordinary shareholders meeting approved the acquisition. On April 24, 2020, Beijing Cuiwei Tower Co received decision for further implementation of the Centralized Antitrust Examination for Operators issued by the State Administration of Market Supervision and Administration, approving the acquisition. On May 7, 2020, the transaction received the acceptance form of administrative license application issued by China Securities Regulatory Commission. As on July 9, 2020, the transaction received regulatory approval. As of September 30, 2020, the transaction obtained approval of People's Bank of China He Peng, Pang Yang of Tian Yuan Law Firm acted as legal advisors, Pu Fei, Zhang Zhongwei, Wang Songzhao, Zhang Yue, Liu Bo, Sun Mingxuan, Yang Junwei, Zheng Shengda, Zang Jiaxin of CSC Financial Co., Ltd. (SEHK:6066) acted as financial advisors and Cong Cun, Zhang Lifang of Moore Stephens Da Hua acted as accountant to Beijing Cuiwei Tower. Beijing Cuiwei Tower Co., Ltd. completed the acquisition of 98.29% stake in Beijing Haike Rongtong Payment Service Corp from Beijing Chuanyi Kongjian Television Culture Development Co., Ltd., Beijing Leiming Capital Management Co., Ltd, Beijing Haidian Technology Development Co., Ltd., Beijing Zhongheng Tianda Technology Development Co., Ltd., Beijing Huiying Gaoke Investment Management Co., Ltd and 102 individuals on December 3, 2020.