Stellar Megaunion Corp. made a bid to acquire H&R Century Pictures Co.,Ltd. from Ourpalm Co.,Ltd (SZSE:300315), Beijing Enlight Media Co., Ltd. (SZSE:300251) and others for CNY 3 billion in stock on September 2, 2015. The group of sellers includes several shareholders and 34 individuals. Under the terms of the offer, Stellar Megaunion Corp. will issue 391.65 million shares for H&R Century Pictures Co.,Ltd. shares and finance at most CNY 1.53 billion. The issue price for this asset acquisition is CNY 7.66 per share.

H&R Century Pictures Co.,Ltd. reported operating revenue of CNY 294.2 million, total assets of CNY 1.09 billion, total stockholders' equity of CNY 761.21 million, and net profit of CNY 51.11 million for the year ended 2014. The transaction is subject to approval by shareholders of Stellar Megaunion Corp. and Central Committee of the Communist Party of China Publicity Department, and the State Administration of Press, Publication, Radio, Film and Television of the People's Republic of China. The transaction has been approved by Board of Directors of Stellar Megaunion Corp. As of February 25, 2016, shareholders of Stellar Megaunion Corp. approved the transaction. As on June 7, 2016, the shareholders of H&R Century Pictures Co approved the deal. On July 21, 2016, China Securities Regulatory Commission conditionally approved the deal. As of November 8, 2016, the transaction was approved by the CSRC. New Times Securities Co., Ltd acted as financial advisor to Stellar Megaunion Corp. Beijing Tian Yuan Law Firm acted as legal advisor and Pan-China Certified Public Accountants acted as accountant to Stellar Megaunion Corp. Beijing Xinghua Certified Public Accountants acted as accountant to H&R Century Pictures.

Stellar Megaunion Corp. completed the acquisition of H&R Century Pictures Co.,Ltd. from Ourpalm Co.,Ltd (SZSE:300315), Beijing Enlight Media Co., Ltd. (SZSE:300251) and others on November 16, 2016.