Hengxin Mobile Business Co Ltd (SZSE:300081) agreed to acquire Dongfang Dream Culture Industrial Investment Co., Ltd from Xiamen Rongxinbo Investment Partnership, Win Cheng Mingren No. 1 Private Equity, a fund of Shanghai Win Cheng Asset Mgt. Co., Ltd, Beijing Jian Financial Information Technology Co., Ltd. and five individuals for CNY 1.3 billion on February 25, 2016. Hengxin Mobile Business will issue 43.48 million shares at CNY 29.67 per share as consideration. In a related transaction, Hengxin Mobile Business Co Ltd will issue shares to raise CNY 990 million. Dongfang Dream Culture Industrial Investment Co., Ltd reported total assets of CNY 223.72 million, total liabilities of CNY 4.53 million, total owner's equity of CNY 219.19 million, operating loss of CNY 10.3 million, total loss of CNY 10.3 million and net loss of CNY 10.37 million in 2015. The transaction is subject to approval of shareholders’ of Hengxin Mobile Business, approval of China Securities Regulatory Commission, another directorate approval of Hengxin Mobile Business and other necessary approvals. The transaction is also subject to approval of shareholders’ of Hengxin Mobile Business for the exemption of Meng Xianmin and persons acting in concert acquiring Hengxin Mobile Business’ shares through tender offer. The Board of Hengxin Mobile Business Co., Ltd approved the transaction. As on September 28, 2016, China Securities Regulatory Commission approved the deal. As on December 1, 2016, it was reported that Dongfang Dream Culture Industrial Investment will issue 109.04 million shares as consideration. On December 1, 2016, Hengxin Mobile Business received approval from the China Securities Regulatory Commission with respect to the transaction. China Securities Co., Ltd acted as the financial advisor, King & Wood Mallesons, China acted as legal advisor and BDO China SHU LUN PAN Certified Public Accountants LLP acted as accountant to Hengxin Mobile Business Co Ltd. Hengxin Mobile Business Co Ltd (SZSE:300081) completed the acquisition of Dongfang Dream Culture Industrial Investment Co., Ltd from Xiamen Rongxinbo Investment Partnership, Win Cheng Mingren No. 1 Private Equity, a fund of Shanghai Win Cheng Asset Mgt. Co., Ltd, Beijing Jian Financial Information Technology Co., Ltd. and five individuals on December 5, 2016.