Yawei Precise Laser Korea Company agreed to acquire 21.96% stake in LIS Co., Ltd. (KOSDAQ:A138690) from Sooin Cosmetics Co., Ltd. and B&B Investment Co., Ltd. for approximately CNY 390 million on July 22, 2019. On July 23, 2019, an agreement was signed. Yawei Precise Laser Korea Company will acquire 2.39 million shares from Sooin Cosmetics Co., Ltd. and 1.1 million shares from B&B Investment Co., Ltd. Prior to the transaction, Sooin Cosmetics Co., Ltd. held 3.9 million shares amounting to 24.33% stake and B&B Investment Co., Ltd. held 1.1 million shares amounting to 6.96% stake in LIS Co., Ltd. After the transaction, Sooin Cosmetics Co., Ltd will hold 1.5 million shares amounting to 9.33% stake and B&B Investment Co., Ltd. will hold no stake in LIS Co., Ltd. The transaction is subject to approval from shareholders of Jiangsu Yawei Machine Tool Co., Ltd. (SZSE:002559), ultimate parent of Yawei Precise Laser Korea Company. The Board of Directors of Jiangsu Yawei Machine Tool Co., Ltd. approved the transaction on July 22, 2019. Yawei Precise Laser Korea Company completed the acquisition of 21.96% stake in LIS Co., Ltd. (KOSDAQ:A138690) from Sooin Cosmetics Co., Ltd. and B&B Investment Co., Ltd. on September 20, 2019. Yawei Precision Laser Korea Co., Ltd. paid, in USD, a total worth of CNY 308 million (payment was equivalent to 80% of the share transfer price stipulated in the share transfer contract) to Sooin Cosmetic Co., Ltd. and BNB Investment Co., Ltd. The remaining 20% of the transfer price will be paid in accordance with the audited 2019 annual net profit realized by LIS Co., Ltd. as stipulated in the share transfer contract. LIS Co., Ltd. has convened a general meeting of shareholders to elect Leng Zhibin and Zhu Pengcheng as their directors according to the Share Transfer Contract, and elected Shi Jinxia as their supervisor; the board of directors elected Leng Zhibin as its chairman.