Beijing Orient Landscape and Ecology Co., Ltd. (SZSE:002310) agreed to acquire Shanghai Leeya Water Treatment Tech Co., Ltd. from Xu Liqun, Shanghai Xinliyuan Investment management Partnership (Limited Partnership) and Shanghai Bangming Kexing Investment Center (Limited Partnership), managed by BMC for approximately CNY 320 million in cash and stock on November 20, 2015. Beijing Orient Landscape and Ecology will issue 5.18 million shares at CNY 20.97 per share and CNY 216 million in cash. Beijing Orient Landscape will acquire 33.46% stake in Shanghai Leeya by issuing A shares to the sellers and acquire 66.54% stake in Shanghai Leeya by paying cash to the sellers. Beijing Orient Landscape will pay a performance deposit of CNY 20 million to the sellers by using self-owned funds within 10 working days starting from the signing date of the agreement of Shanghai Leeya, performance deposit of CNY 12.46 million to the sellers by using self-owned funds within 10 working days after this overall transaction was approved at the Beijing Orient Landscape and Ecology shareholders’ meeting and pay the remaining cash consideration of CNY 183.54 million for the equity transfer in a lump sum to the sellers within 10 working days after the completion of the verification of the proceeds raised from the raising supporting funds transaction. In a related transaction, Beijing Orient Landscape and Ecology Co., Ltd. agreed to acquire Zhongshan Environmental Protection Industry Co., Ltd. from a group of shareholders for approximately CNY 950 million in cash and stock on November 20, 2015. Beijing Orient Landscape and Ecology will issue shares to not more than 10 specific investors to raise supporting funds of not more than CNY 1.05 billion and the proceeds will be used to pay the cash consideration of the transaction. Shanghai Leeya Water Treatment Tech Co., Ltd. reported total assets of CNY 91.2 million, revenues of CNY 50.3 million, net income of CNY 6.1 million and net assets of CNY 12.8 million for the year ended December 31, 2014. The transaction is subject to CSRC approval. The deal was approved by the supervisory board of Beijing Orient Landscape and Ecology Co., Ltd. On November 20, 2015, Shanghai Leeya held the shareholders’ meeting and all shareholders including Xu Liqun, Shanghai Xinliyuan and Bangming Kexing unanimously approved to transfer their stake in Shanghai Leeya to Beijing Orient Landscape. Shanghai Xinliyuan and Bangming Kexing have already completed the internal approval procedures, respectively, and agreed to transfer the stake in Shanghai Leeya to Beijing Orient Landscape. On November 23, 2015, the transaction is approved by the Board of Beijing Orient Landscape and Ecology Co., Ltd and on December 15, 2015, the transaction is approved by the shareholders of Beijing Orient Landscape and Ecology Co., Ltd On March 9, 2016, Beijing Orient Landscape held the 36th session of the 5th directorate and on March 28, 2016, Beijing Orient Landscape held the shareholders’ meeting to approve the adjustment in the issue price of this issuance. The issue price was determined to be not less than CNY 20.97 per share. Based on the minimum issue price of CNY 20.97 per share, Beijing Orient Landscape will issue 50 million A shares through this issuance to raise supporting funds. On July 20, 2016, China Securities Regulatory Commission approved the transaction. As of August 18, 2016, the number of shares to be issued as consideration is revised to 12.9 million with issue price of CNY 8.37 per share. China Securities Co., Ltd. and Guotai Junan Securities Company Limited (SHSE:601211) acted as financial advisors, Beijing King & Wood Mallesons Law Firm acted as legal advisor and BDO China SHU LUN PAN Certified Public Accountants LLP acted as an accountant to Beijing Orient Landscape. Beijing Orient Landscape and Ecology Co., Ltd. (SZSE:002310) completed the acquisition of Shanghai Leeya Water Treatment Tech Co., Ltd. from Xu Liqun, Shanghai Xinliyuan Investment management Partnership (Limited Partnership) and Shanghai Bangming Kexing Investment Center (Limited Partnership), managed by BMC on September 29, 2016.