China Zhonghua Geotechnical Engineering Co., Ltd. (SZSE:002542) signed conditionally effective agreement to acquire Beijing Idea Latitude Urban Planning Institute Co., Ltd. from 18 individuals for CNY 110 million on May 10, 2016. China Zhonghua will issue 13.41 million shares as consideration. In related transactions, China Zhonghua Geotechnical Engineering Co., Ltd. agreed to acquire Shanghai LiXing Construction Engineering Development Co., Ltd. for CNY 300 million and remaining 49% stake in Zhejiang Zhongqing International Aviation Club Co., Ltd. for CNY 70 million. Beijing Idea Latitude Urban Planning Institute reported total assets of CNY 26.78 million, net assets of CNY 14.55 million, revenue of CNY 21.13 million, operating loss of CNY 17.37 million and net loss of CNY 19.96 million as of December 31, 2015. The deal is subject to second approval of the Board of China Zhonghua Geotechnical Engineering after the assets’ audit and assessment work are completed, China Zhonghua Geotechnical Engineering’s shareholders’ approval, CSRC’s approval and other necessary approvals. The deal was approved by the Board of China Zhonghua Geotechnical Engineering and by the shareholders of Beijing Idea Latitude Urban Planning Institute on May 10, 2016. On November 2, 2016, China Zhonghua Geotechnical Engineering Co., Ltd. received an unconditional approval from regulatory authorities. Haitong Securities Co., Ltd. acted as financial advisor and Thornton Certified Public Accountants acted as accountant for China Zhonghua Geotechnical Engineering Co., Ltd. China Zhonghua Geotechnical Engineering Co., Ltd. (SZSE:002542) completed the acquisition of Beijing Idea Latitude Urban Planning Institute Co., Ltd. from 18 individuals on December 7, 2016.