Estun Automation Co., Ltd (SZSE:002747) intends to acquire remaining 51% stake in Nanjing Dingpai Electrical and Mechanical Technology Co., Ltd. from Nanjing Paileisite Technology Co., Ltd. for approximately €200 million (CNY 1.5 billion) on September 6, 2019. Estun Automation Co., Ltd will issue shares and corporate bonds in consideration. Estun Automation enters into a major asset acquisition agreement to acquire remaining 51% stake in Nanjing Dingpai Electrical and Mechanical Technology Co., Ltd. from Nanjing Paileisite Technology for approximately CNY 410 million on March 18, 2020. The consideration shall be paid in cash. The final transaction price will be based on the evaluation value in the evaluation report issued by an evaluation agency with securities and futures-related business qualifications, and will be determined by the parties to the transaction. Post completion, Nanjing Dingpai Electrical and Mechanical Technology Co., Ltd. will own 100% stake in Nanjing Dingpai Electrical and Mechanical Technology Co., Ltd. Estun Automation Co., Ltd will carry out private placement to raise supporting funds. As of March 20, 2020, raising of supporting funds is cancelled. Post completion, Nanjing Dingpai Electrical and Mechanical Technology will operate as a wholly-owned subsidiary of Estun Automation. After the completion of the relevant audit and evaluation of the assets to be marked, the company once again will convene the relevant resolutions of the board of directors to review the transaction. The general meeting of Etsun Autoamtion needs to review and approve the transaction plan. The China Securities Regulatory Commission needs to approve the transaction plan. The transaction is subject to other necessary prior approval, approval or consent as required by laws, regulations and regulatory authorities. The transaction plan has been reviewed and approved at the 21st meeting of the third Board of directors of Estun Automation Co., Ltd. As of March 18, 2020, shareholders of Nanjing Paileisite Technology approved the transaction. China Securities Co., Ltd., Zhong Lun Law Firm and Zhonghui Certified Public Accoutants Co., Ltd. acted as financial advisor, legal advisor and accountant to Estun Automation Co., Ltd respectively.