NARI Technology Co., Ltd. (SHSE:600406) agreed to acquire a 60% stake in China Realtime Database Co., Ltd. from NARI Group Corporation for CNY 66 million on May 16, 2017. The consideration will be paid in cash and stock. As of July 31, 2017, a supplementary agreement was signed pursuant to which the transaction price was amended to CNY 72.3 million. In related transactions, NARI Technology agreed to acquire stakes in 13 other companies from NARI Group Corporation and other sellers. NARI Technology Co., Ltd. will also raise CNY 6.1 billion and a portion of the proceeds shall be used to fund the cash consideration of the transactions. For the year ended December 31, 2016, China Realtime Database Co., Ltd. had total assets of CNY 228.16 million, net assets of CNY 85.61 million, revenues of CNY 131.84 million, operating loss of CNY 20.81 million and net loss of CNY 16.14 million. The transaction is subject to approval from the Board of NARI Technology Co., Ltd. for the formal transaction plan, approval of NARI Group Corporation for the formal plan, State-owned Assets Supervision and Administration Commission's Filing and approval of the China Realtime Database Co., Ltd assets audit and assessment reports, NARI Technology Co., Ltd's shareholders' approval, approval of the Ministry of Commerce’s Review on the concentration of business operators., China Securities Regulatory Commission's approval and other necessary approvals. As of May 17, 2017, the transaction was approved by NARI Group Corporation, approved in principle by State-owned Assets Supervision and Administration Department and approved by the Board of NARI Technology Co., Ltd. in the 11 meeting of the 6th directorate. As of May 26, 2017, NARI Technology Co., Ltd. received an inquiry letter from Shanghai Stock Exchange for information on the transaction. As of July 31, 2017, the amendment to the transaction was approved by the Board of NARI Technology Co., Ltd. The shareholders' meeting of NARI Technology Co., Ltd. will be held on August 21, 2017. As of August 18, 2017, the State-owned Assets Supervision and Administration Commission of the State Council approved the transaction. On August 21, 2017, the shareholders’ of NARI Technology Co., Ltd. approved the transaction. As on October 21, 2017, Notice of Not Implementing Further Examination is received from Anti-monopoly Bureau of the Ministry of Commerce of the People’s Republic of China. On October 25, 2017, Merger, Acquisition and Reorganization Examination Committee of Listed Companies of the China Securities Regulatory Commission held the 61st working meeting of 2017 and unconditionally approved the transaction. The China Securities Regulatory Commission approved the transaction on December 8, 2017. CITIC Securities Company Limited (SHSE:600030) acted as a financial advisor to NARI Technology Co., Ltd.