Ninestar Corporation (SZSE:002180) agreed to acquire Zhuhai Pantum Electronics Co., Ltd from group of sellers for CNY 7.7 billion on July 28, 2020. Ninestar Corporation agreed to acquire Zhuhai Pantum Electronics Co., Ltd from group of sellers for CNY 7.8 billion on August 3, 2021. As per terms of transaction, consideration will be in the form of cash and issuance of shares. The shares will be issued at CNY 29.43 per share. Under the terms 170.4 million shares will be issued and CNY 1.54 billion will be paid in cash. Consideration will be funded from the placement of not more than CNY 5.5 billion. The shares will not be transferred within 6 months after the listing date. As on February 9, 2021, the supporting funds to be raised was adjusted from CNY 5.5 billion to CNY 5 billion. For the year ended December 31, 2019, Zhuhai Pantum Electronics Co., Ltd. reported total assets of approximately CNY 1341.5 million, total owner?s equity of approximately CNY 91.8 million, revenue of approximately CNY 1510 million and net profit of approximately CNY 190 million. Transaction is subject to approval from board of directors and shareholders of Ninestar, State Administration for Market Regulation Antimonopoly Bureau?s and CSRC. As of May 13, 2021, transaction is subject to approval from State Administration for Market Regulation?s approval of Concentration of operators and CSRC. As of September 2, 2020, the transaction has been approved by CSRC. As on February 9, 2021, the 15th session of Ninestar Corporation 6th directorate approved the transaction. On April 7, 2021, shareholder of Ninestar Corporation approved the transaction. On May 12, 2021, the Board of Ninestar Corporation approved the transaction. The transaction is expected to close in July or August of 2021. Huatai United Securities Co., Ltd. acted as financial advisor, CM Law Firm and King & Wood Mallesons acted as legal advisor and BDO China SHU LUN PAN Certified Public Accountants LLP acted as accountant to Ninestar Corporation. Ninestar Corporation (SZSE:002180) completed the acquisition of Zhuhai Pantum Electronics Co., Ltd from group of sellers on August 25, 2021.