Inner Mongolia Lantai Industrial Co., Ltd. (SHSE:600328) agreed to acquire Zhongyan Kunshan Co., Ltd. from Jilantai Salt Chemical (Group) Co., Ltd. for approximately CNY 750 million on July 2, 2018. Inner Mongolia Lantai Industrial Co., Ltd. will issue 75.67 million shares as consideration. As on March 26, 2019, terms of the transaction have been amended, now Inner Mongolia will pay CNY 34.5 million in cash and will issue 84.2 million shares. Inner Mongolia Lantai Industrial Co., Ltd. agreed to acquire Zhongyan Kunshan Co., Ltd. from Jilantai Salt Chemical (Group) Co., Ltd. for approximately CNY 760 million on July 12, 2019. Inner Mongolia Lantai Industrial Co., Ltd. will pay CNY 757.7 million through CNY 34.49 million in cash and CNY 723.22 million through issuance of shares. The final transaction consideration is based on the evaluation results determined by the assessment report of the State-owned Assets Supervision and Administration Commission of the State Council. The consideration shares acquired by Jilantai Salt Chemical (Group) Co., Ltd. through the transaction shall not be transferred within 36 months from the date of completion of the issuance, unless the applicable laws and regulations permit the transfer. Inner Mongolia Lantai Industrial Co., Ltd. raised funds of CNY 800 million through issuance of shares. Zhongyan Kunshan Co., Ltd. reported total assets of CNY 3.1 billion and owners’ equity of CNY 477.82 million as at December 31, 2017. Zhongyan Kunshan Co., Ltd. reported operating revenues of CNY 1.7 billion, operating profit of CNY 0.37 million and net profit after deducting non-recurring gains and losses of CNY 4.39 million in 2017. The transaction is subject to approval from the Inner Mongolia Lantai Industrial shareholders, review of undertaking of concentration by the State Administration for Market Regulatio and approval from China Securities Regulatory Commission. The Board of Directors of Inner Mongolia Lantai Industrial Co., Ltd. approved the transaction on July 2, 2018. As of March 19, 2019, the transaction obtained approval in principle from the State-owned Assets Supervision and Administration Commission of the State Council. As on March 26, 2019, amendment has been approved by the Board of Directors of Inner Mongolia. As on June 12, 2019, the transaction has been approved by State Administration for Market Regulation. As of July 12, 2019, the transaction plan has been approved by the board of directors of Jilantai Salt Chemical (Group) Co., Ltd., State-owned Assets Supervision and Administration Commission of the State Council, the shareholders of Inner Mongolia Lantai Industrial Co., Ltd. The Board of Directors of Inner Mongolia Lantai Industrial Co., Ltd. have approved the amended terms. Han Zhida, Fu Guannan, Yao Tao, Chen Cong, Wei Peng, Xie Fanggui, Liu Chongran, Wang Wenting of Guotai Junan Securities Co., Ltd. (SHSE:601211) acted as financial advisors, Hu Weiye, Xu Wanze, Deng Yonghui, Gui Cheng, Chen Youran, Zhang Keling, Lin Yanxin of China Merchants Securities Co., Ltd. (SHSE:600999) acted as financial advisors, Wang Yong, Qin Yue, Na Heya, Yang Wenyan of Inner Mongolia Jiadu Law Firm acted as legal advisors and Zhang Junshu, Guo Jian, Guo Shunxi, Liu Jungang, Zhang Jiahui, Zhang Shuo of BDO China Shu Lun Pan Certified Public Accountants LLP acted as an accountants to Inner Mongolia Lantai Industrial Co. in the transaction. Inner Mongolia Lantai Industrial Co., Ltd. (SHSE:600328) completed the acquisition of Zhongyan Kunshan Co., Ltd. from Jilantai Salt Chemical (Group) Co., Ltd. on December 26, 2019. On December 13, 2019, Inner Mongolia Lantai Industrial Co., Ltd received the written approval No.[2019]2661 from China Securities Regulatory Commission approving the asset acquisition.