Far East Cable Co., Ltd. agreed to acquire 51% stake in Beijing Shuimu Yuanhua Electric Company Limited from a group of 26 investors for approximately CNY 280 million.
For the year ending December 31, 2013, Beijing Semeureka Electric Co. had total assets of CNY 176.07 million, net assets of CNY 124.5 million, revenues of CNY 106.47 million and net profit of CNY 37.84 million. The transaction was approved by the Board of Far East Cable Co., Ltd. on May 30, 2014. As of September 9, 2014, the number of shares to be transferred by some of the signatory shareholders being adjusted, the total transaction price had corresponding adjustments, with the original price of CNY 284.53 million being adjusted to CNY 284.87 million. This adjustment has been approved by Board of Far East Cable.