Chengdu Yunda Technology Co., Ltd. (SZSE:300440) agreed to acquire Chengdu Jiaoda Yunda Electric Co., Ltd. from group of shareholders for approximately CNY 710 million on May 20, 2020. The consideration will be paid 40% in cash and 60% in stock. On July 28, 2020, Chengdu Yunda Technology and Chengdu Jiaoda Yunda Electric Co., Ltd.’s shareholders agreed to acquire Chengdu Jiaoda Yunda Electric Co., Ltd.’s 100% stake by paying cash of CNY 246,680,000 and issuing 39,031,637 shares. Tibet Lilin Enterprise Management Co., Ltd., one of the sellers, will commit to a lock up period of 36 months since issuance date. All other sellers will commit to 12 months of lock up period. Chengdu Yunda Technology will raise supporting funds of not more than CNY 290 million by issuing not more than 30% of total share capital to not more than 35 investors. As at December 31, 2019, Chengdu Jiaoda Yunda Electric had total assets of CNY 111.73 million and common equity of CNY 50.38 million. For the year ended December 31, 2019, Chengdu Jiaoda Yunda Electric generated revenues of CNY 97.89 million and net profit of CNY 27.09 million. The transaction is subject to approval from the China Securities Regulatory Commission. The transaction has been approved by the shareholders of Chengdu Yunda Technology and Board of Directors in 41st meeting of the third session of Chengdu Yunda Technology. On July 28, 2020, Chengdu Jiaoda Yunda Electric Co., Ltd. held a shareholders meeting, and approved the transaction. On July 28, 2020, Chengdu Yunda Technology held the 43rd Meeting of the 3rd Directorate, and approved agreement. Wu Yiming, Liu Shengli of Essence Securities Co., Ltd. acted as financial advisor, Wang Cheng, Wen Zexiong of Zhong Lun Law Firm acted as legal advisor and Yang Xiguang, Shi Hui of ShineWing Certified Public Accountants (Special General Partnership) acted as accountants to Chengdu Yunda Technology. Zheng Zhigang, Wang Zhidong of Moore Stephens Da Hua Certified Public Accountants (Special General Partnership) acted as accountants to Chengdu Jiaoda Yunda Electric. Chengdu Yunda Technology Co., Ltd. (SZSE:300440) cancelled the acquisition of Chengdu Jiaoda Yunda Electric Co., Ltd. from group of shareholders on December 28, 2020. The plan was cancelled after concerning parties failed to reach agreement.