Guangzhou Haige Communications Group Incorporated Company (SZSE:002465) signed memorandum of understanding to acquire 40% of Guangdong Iscreat-e Science and Technology Co., Ltd., 10% of Shaanxi Haitong Antenna Co., Ltd., and 51% stake in Wuhan Jiarui Technology Co., Ltd. for approximately CNY 920 million on September 5, 2016. Guangzhou Haige Communications will acquire 40% stake in Iscreate through issuance of 68.8 million shares, 10% stake in Shaanxi Haitong Antenna Co., Ltd. through issuance of 1.9 million shares, and 51% stake in Wuhan Jiarui Technology Co., Ltd. through issuance of 11.9 million shares and payment of CNY 53.55 million cash. Sellers for Iscreate are Gu Yuanqin, Zhuang Jingdong, Wang Bing, Yan Yuqing, and Wang Feng. Seller for Shaanxi Haitong Antenna Co., Ltd. is Yao Xingliang and for Wuhan Jiarui Technology Co., Ltd. seller is Liu Hang. As of June 1, 2017, the total number of shares to be issued has been revised to 83.5 million shares and the raising has been revised to 75.1 million shares at CNY 10.36 per share to fund the transaction. Guangzhou Haige Communications Group Incorporated Company is also acquiring 53.13% in Xi’An Chida Aircraft Parts Manufacturing Co.,Ltd. On September 18, 2016, an agreement is entered into. Guangzhou Haige Communications Group Incorporated Company is raising supporting funds of CNY 975.8 million for the transactions. For 2015, Guangdong Iscreat-e Science and Technology Co., Ltd. recorded total asset of CNY 1091.8 million, owner’s equity of CNY 598.2 million, revenue of CNY 1012.6 million, operating profit of CNY 183.8 million, and net profit of CNY 158.4 million; Shaanxi Haitong Antenna Co., Ltd. recorded total asset of CNY 104 million, owner’s equity of CNY 50.47 million, revenue of CNY 76.11 million, operating profit of CNY 19.38 million, and net profit of CNY 18.57 million; Wuhan Jiarui Technology Co., Ltd. recorded total asset of CNY 68.65 million, owner’s equity of CNY 36.82 million, revenue of CNY 46.11 million, operating profit of CNY 28.59 million, and net profit of CNY 25.03 million. The deal is subject to approval from China Securities Regulatory Commission and shareholders’ approval of Guangzhou Haige Communications Group Incorporated. State Administration of Science, Technology and Industry for National Defense, PRC approved the deal on September 14, 2016, Board of Directors of Shaanxi Haitong Antenna Co., Ltd. approved the deal on September 18, 2016 while shareholders of Guangdong Iscreat-e Science and Technology Co., Ltd. approved the deal on September 12, 2016. On September 18, 2016, the Board of Directors of Guangzhou Haige Communications Group Incorporated Company approved the deal. As of November 18, 2016, the transaction was approved by the State-owned Assets Supervision and Administration Commission, the People's Government of Guangdong Province. On November 21, 2016, the shareholders of Guangzhou Haige Communications Group Incorporated Company approved the deal. On April 28, 2017, China Securities Regulatory Commission approved the deal. As on May 25, 2017, acquisition of 40% of Iscreat-e Science has been completed. As on May 22, 2017, acquisition of 10% of Shaanxi Haitong Antenna has been completed. GF Securities Co., Ltd acted as financial advisor, Zhong Lun Law Firm acted as legal advisor and BDO China Shu Lun Pan Certified Public Accountants LLP acted as an accountant for Guangzhou Haige Communications Group Incorporated Company. Guangzhou Haige Communications Group Incorporated Company (SZSE:002465) completed the acquisition of 40% of Guangdong Iscreat-e Science and Technology Co., Ltd., 10% of Shaanxi Haitong Antenna Co., Ltd., and 51% stake in Wuhan Jiarui Technology Co., Ltd. on May 27, 2017.