Great Wall Movie and Television Co., Ltd. (SZSE:002071) signed a conditional agreement to acquire Beijing Premiere Age Culture Media Co., Ltd. from Jinggangshan Leyi Media Center (General Partnership) and 7 individuals for CNY 1.4 billion on December 14, 2016. Great Wall Movie and Television Co., Ltd. will issue 87.83 million shares at CNY 12.3 per share and will pay cash of CNY 269.75 million as consideration. Wu Hui and Jinggangshan Leyi Media Center (General Partnership) will receive both cash and stock and rest of the shareholders’ will receive only stock consideration. In a related transaction, Great Wall Movie and Television Co.,Ltd. signed a conditional agreement to acquire Zhejiang Tonight Films for approximately CNY 540 million and Great Wall Movie and Television Co.,Ltd. will issue shares to not more than 10 specific investors to raise supporting funds of not more than CNY 563 million to fund the acquisition. Beijing Premiere Age Culture Media Co., Ltd. reported total assets of CNY 8.57 million, revenues of CNY 8.35 million, operating profit of CNY 4.91 million and net profit of CNY 3.68 million in 2015. The transaction is subject to another Directorate approval after issuance of the audit and appraisal report of Beijing Premiere Age Culture Media Co., Ltd, approval of shareholders' of Great Wall Movie and Television Co., Ltd and approval of China Securities Regulatory Commission. The partners of Jinggangshan Leyi Media Center (General Partnership) and the shareholders' of Beijing Premiere Age Culture Media Co., Ltd approved the transaction. The Board of Directors of Great Wall Movie and Television Co., Ltd. approved the transaction. On June 28, 2017, the shareholders' of Great Wall Movie and Television Co., Ltd. approved the transaction. Northeast Securities Co., Ltd and Dongguan Securities Co., Ltd acted as the financial advisors, EY Chen & Co. Law Firm acted as the legal advisor and Moore Stephens Da Hua Certified Public Accountants acted as the accountant to Great Wall Movie and Television Co., Ltd. Great Wall Movie and Television Co., Ltd. (SZSE:002071) cancelled the acquisition of Beijing Premiere Age Culture Media Co., Ltd. from Jinggangshan Leyi Media Center (General Partnership) and 7 individuals on November 3, 2017. The agreement was cancelled since a new agreement was signed wherein Great Wall Movie and Television Co., Ltd. (SZSE:002071) agreed to acquire 87.5% stake in Beijing Premiere Age Culture Media Co., Ltd. from Jinggangshan Leyi Media Center (General Partnership) and six individuals for CNY 1.1 billion.