Great Wall International ACG Co., Ltd. (SZSE:000835) signed an agreement to acquire Xi'an Lingjing Science and Technology Co., Ltd. from a group of sellers for approximately CNY 510 million on June 28, 2016. Great Wall International ACG Co., Ltd will pay CNY 177.63 million in cash and will issue 25.99 million shares at CNY 12.69 per share as consideration. In a related transaction, Great Wall International ACG Co., Ltd. will acquire 100% stake in Beijing Mini World Culture Development Co., Ltd. The transaction shall be funded through cash proceeds of issuance of new shares of Great Wall International ACG Co., Ltd. of CNY 425 million. Xi'an Lingjing Science and Technology Co., Ltd. reported total assets of CNY 164.26 million, net assets of CNY 85.92 million, revenues of CNY 114.04 million and net profit of CNY 10.46 million in 2015. The transaction is subject to approval of shareholders’ of Great Wall International ACG Co., Ltd and approval of CSRC. TEDA Venture Capital Corp., Ltd. and Ningbo Haida Dingxing Venture Capital Co., Ltd. made decision to sell stake in Xi'an Lingjing Science and Technology Co., Ltd to Great Wall International ACG Co., Ltd. The Board of Great Wall International ACG Co., Ltd approved the transaction. The shareholders’ of Xi'an Lingjing Science and Technology Co., Ltd approved the transaction. As of October 26, 2016, China Securities Regulatory Commission Listed Companies Merger and Reorganization Audit Committee did not approve the acquisition. Northeast Securities Co., Ltd. acted as the financial advisor and Anhui Tianhe Law Firm acted as the legal advisor to Great Wall International ACG Co., Ltd. Ruihua Certified Public Accountants (Special General Partnership) acted as the accountant to Xi'an Lingjing Science and Technology Co., Ltd. Great Wall International ACG Co., Ltd. (SZSE:000835) cancelled the acquisition of Xi'an Lingjing Science and Technology Co., Ltd. from a group of sellers on June 28, 2017.