Lens Technology Co., Ltd. (SZSE:300433) agreed to acquire Liansheng (China) Technology Co., Ltd. from Lucky Star Technology Co., Ltd. and Dongguan Wanshida LCD Co., Ltd. for CNY 1.2 billion on December 12, 2016. Lens Technology Co., Ltd. will use own funds of CNY 1.22 billion to clear off the debts of Liansheng (China) Technology Co., Ltd. and will acquire 100% stake in Liansheng (China) Technology Co., Ltd. for free thereby obtaining the land, factory/plant, and machinery and equipment under Liansheng (China) Technology Co., Ltd. The transaction is subject to ruling approval from Dongguan Intermediate People’s Court. On December 12, 2016, Lens Technology Co., Ltd.'s Board of Directors approved the bankruptcy restructuring and the acquisition of 100% stake in Liansheng (China) Technology Co., Ltd. On December 19, 2016, deal received approval from Dongguan Intermediate People’s Court.