Shaoxing Jindun Technology Co., Ltd. signed a framework agreement to acquire Zhejiang ULIRvision Technology Co., LTD from Hangzhou Zhongyi Investment Management Co., Ltd, EVERFINE Corporation (SZSE:300306), Hangzhou Hongjiang Investment Management Co., Ltd. and Fei Zhanjun for CNY 1.2 billion on July 8, 2016. Under the terms of the transaction, Hangzhou Zhongyi Investment Management Co., Ltd and Hangzhou Hongjiang Investment Management Co., Ltd. will get cash and stock of Zhejiang Jindun Fans Holding Co.,Ltd. (SZSE:300411), parent of Shaoxing Jindun Technology Co., Ltd. as consideration amounting to approximately CNY 150 million and approximately CNY 860 million respectively under which total of 35.29 million shares will be issued at CNY 24.45 per share. EVERFINE and Fei Zhanjun will get approximately CNY 140 million under which 5.9 million shares will be issued at CNY 24.45 per share. As of March 24, 2017, a revised framework agreement to acquire Zhejiang ULIRvision Technology Co., LTD from Hangzhou Zhongyi Investment Management Co., Ltd, EVERFINE Corporation, Hangzhou Hongjiang Investment Management Co., Ltd. and Fei Zhanjun for CNY 1.7 billion. As per new amendment terms, all the terms remain same except Zhejiang Jindun Fans Holding Co.,Ltd. will issue total of 35.2 million shares instead of 35.28 million. As on August 23, 2017, terms of the transaction were amended. Under the amended terms of the transaction, Hangzhou Zhongyi Investment Management Co., Ltd and Hangzhou Hongjiang Investment Management Co., Ltd. will get cash and stock consideration amounting to CNY 807.4 million and CNY 207.6 million respectively under which total of 35.25 million shares will be issued at CNY 24.4 per share. EVERFINE and Fei Zhanjun will get CNY 92.8 million and CNY 52.2 million respectively under which 5.9 million shares will be issued at CNY 24.4 per share. In August 2017, an agreement was signed. In a related transaction, Zhejiang Jindun Fans Holding Co.,Ltd signed a framework agreement to acquire Jiangyin Zhongqiang Technology Co., Ltd. from Zhou Weihong for CNY 800 million. The transaction will be funded from CNY 1.02 billion which will be raised by Zhejiang Jindun Fans Co., Ltd. As of June 1, 2017, Zhejiang Jindun Fans Holding Co.,Ltd. will raise CNY 985.1 million. During the financial year ended December 31, 2015, Zhejiang ULIRvision Technology Co., LTD reported revenues of CNY 117.69 million, total assets of CNY 148.88 million, operating profit of CNY 32.7 million, net income of CNY 34.97 million and net assets of CNY 109.85 million. The transaction is subject to approval of shareholders of EVERFINE Corporation, approval by second Directorate meeting of Zhejiang Jindun Fans Holding Co.,Ltd., Zhejiang Jindun Fans Holding Co. ,Ltd.'s shareholder approval and CSRC approval. The shareholders’ of Hangzhou Zhongyi Investment Management Co., Ltd, EVERFINE Corporation and Hangzhou Hongjiang Investment Management Co., Ltd. approved the transaction. The shareholders of Zhejiang Jindun Fans Holding Co.,Ltd. also approved the transaction in their 1st extraordinary general meeting of 2017. The Board of Directors of Zhejiang Jindun Fans Holding Co.,Ltd. approved the transaction. As on March 24 2017, further Directorate approval has been received. The transaction received approval from the Merger, Acquisition, and Reorganization Examination Committee of Listed Companies of the China Securities Regulatory Commission in its 31st work meeting of 2017 on June 15, 2017 and by the National Defense Science and Technology Industry Bureau. Zhou Jie, Yang Yanjie, Li Hui and Chu Xin Chen of Haitong Securities Co., Ltd. (SHSE:600837) acted as the financial advisors, Tong Xiangcan, Li Ming and Zhang Jingzhong of T&C Law Firm acted as the legal advisors, Wang Yuehao, Zhu Dawei, Wu Hui and Liu Shuihong of Pan-China Certified Public Accountants LLP acted as the accountants and Yu Hua Kai, Zhang Bo and Chai Shan of Kun Yuan Assets Appraisal Co., Ltd acted as the appraisers to Zhejiang Jindun Fans Holding Co., Ltd. Shaoxing Jindun Technology Co., Ltd. completed the acquisition of Zhejiang ULIRvision Technology Co., LTD from Hangzhou Zhongyi Investment Management Co., Ltd, EVERFINE Corporation (SZSE:300306), Hangzhou Hongjiang Investment Management Co., Ltd. and Fei Zhanjun on September 20, 2017.