Beijing Oriental Yuhong Waterproof Technology Co.,Ltd (SZSE:002271) agreed to acquire an additional 5.72% stake in Shanghai Oriental Yuhong Waterproof Technology Co., Ltd. from 16 individual shareholders for CNY 91.5 million on June 8, 2015. The group of sellers includes He Shaojun selling 2.88% stake for CNY 46 million, Fang Shibi selling 0.79% stake for CNY 12.5 million, Yang Jianfeng, Chen Zaoming and Yang Hui selling 0.31% stake for CNY 5 million, Li Jianhua selling 0.22% stake for CNY 3.5 million, Liu Mei selling 0.19% stake for CNY 3 million, Yang Qingping and Xu Yuan selling 0.16% stake for CNY 2.5 million, Xiong Tongjun, Yang Xinfeng, Zhang Hua, Fu Xiaodan, Li Qingmei and Yu Hongbin selling 0.06% stake for CNY 1 million and Long Jianming selling 0.03% stake for CNY 0.5 million. Beijing Oriental Yuhong Waterproof Technology will sign an equity transfer agreement. Beijing Oriental Yuhong Waterproof Technology intends to use CNY 91.5 million of its self-owned funds to acquire the stake in Shanghai Oriental Yuhong Waterproof Technology. After the completion of the transaction, Beijing Oriental Yuhong Waterproof Technology Co.,Ltd will hold 99.69% stake in Shanghai Oriental Yuhong Waterproof Technology Co., Ltd. Shanghai Oriental Yuhong Waterproof Technology Co., Ltd reported total assets of CNY 694.67 million, total liabilities of CNY 361.94 million, net assets of CNY 332.73 million, revenues of CNY 592.07 million, operating profit of CNY 49.34 million and net profit of CNY 55.55 million in 2014. The transaction does not require the approval of shareholders’ of Beijing Oriental Yuhong Waterproof Technology and approval of related agencies. The Board of Beijing Oriental Yuhong Waterproof Technology unanimously approved the transaction. Beijing Oriental Yuhong Waterproof Technology Co.,Ltd (SZSE:002271) cancelled the acquisition of an additional 5.72% stake in Shanghai Oriental Yuhong Waterproof Technology Co., Ltd. from 16 individual shareholders on June 8, 2016.