Guangdong Tianan New Material Co., Ltd. (SHSE:603725) signed a property rights transaction contract to acquire 66% stake in Foshan Eagle Technology Co., Ltd., from Guangdong Eagle Brand Group Co.,Ltd., for CNY 8.4 million on March 16, 2021. In related deals, Guangdong Tianan New Material Co., Ltd., signed property rights transaction contracts to acquire 66% stake in each of Foshan Shiwan Eagle Ceramics Co., Ltd., Heyuan Dongyuan Eagle Ceramics Co., Ltd., and Foshan Eagle Ceramics Trading Co., Ltd. from Guangdong Eagle Brand Group Co.,Ltd., for CNY 384.96 million, CNY 123.97 million and CNY 2.65 million respectively, on March 16, 2021. For the year ended December 31, 2021, Foshan Eagle Technology Co., Ltd., had total assets of CNY 19.01 million, net liabilities of CNY 1.57 million, revenues of CNY 56.62 million and net loss of CNY 10.53 million. The transaction is subject to the Second Approval of Guangdong Eagle Brand Group Co.,Ltd., Directorate after the Target Assets’ Audit and Assessment Work are completed, Guangdong Eagle Brand Group Co.,Ltd.’s shareholders’ approval, the State Administration for Market Regulation’s Business Concentration Review, other necessary approvals. On February 1, 2021, Guangdong Tianan New Material Co., Ltd. held the 10th Meeting of the 3rd Directorate, and approved participating in the bids for the companies. On February 25, 2021, Guangdong Tianan New Material Co., Ltd. held the 1st Extraordinary Shareholders Meeting of 2021, and approved participating in the bids for the companies. On March 19, 2021, Guangdong Tianan New Material Co., Ltd. held the 12th Meeting of the 3rd Directorate, and approved the acquisitions. Liu Qiuming, Shen Xiaoyi, Gu Zhiwen, Chen Yunbo and Dou Jianyuan of Everbright Securities Co. LTD., Research Division acted as financial advisor to Guangdong Tianan New Material Co. Gu Gongyun, Yang Haifeng and Chen Yujing of Shanghai Allbright Law Firm acted as legal advisor to Guangdong Tianan New Material Co. Yang Zhiguo, Zhang Ning and Guo Huasai of BDO China SHU LUN PAN Certified Public Accountants LLP acted as an Accountant to Guangdong Tianan New Material Co. Hu Dongquan, Wu Wenxin and Xu Pingping of Zhonglian International Evaluation Consulting Co., Ltd represented Guangdong Tianan New Material Co., Ltd. in the transaction. Guangdong Tianan New Material Co., Ltd. (SHSE:603725) completed the acquisition of 66% stake in Foshan Eagle Technology Co., Ltd., from Guangdong Eagle Brand Group Co.,Ltd. on August 31, 2021.