Ningbo Huaxiang Electronic Co., Ltd (SZSE:002048) agreed to acquire Ningbo Lawrence Automotive Interiors Co., Ltd from Ningbo Fengmei Industrial Co., for CNY 1.4 billion on March 19, 2016. On March 20, 2016, an agreement was signed. Ningbo Huaxiang Electronic Co., will issue 101.57 million shares at CNY 13.51 per share as consideration. In a related transaction, Ningbo Huaxiang Electronic Co., Ltd agreed to Shanghai Global Precision Mould & Plastics Co., Ltd and will issue 127.43 million shares to raise supporting funds. Ningbo Lawrence Automotive Interiors Co., Ltd reported total assets of CNY 1.86 billion, total liabilities of CNY 1.72 billion, owner’s equity of CNY 142.29 million, revenues of CNY 1.7 billion, operating profit of CNY 33.94 million, total profit of CNY 35.02 million and net profit of CNY 8.17 million for the ten months ending October 2015. The transaction is subject to approval of shareholders’ of Ningbo Huaxiang Electronic, approval of China Ministry of Commerce’s Antitrust Bureau and the US Department of Justice and the Federal Trade Commission’s approvals and approval of China Securities Regulatory Commission. The shareholders’ of Ningbo Fengmei Industrial Co., Ltd and Ningbo Lawrence Automotive agreed to the transaction on March 19, 2016. The Board of Ningbo Huaxiang Electronic Co., Ltd approved the transaction on March 20, 2016. As of August 24, 2016, China Securities Regulatory Commission rejected the share issuance and acquisition plan. China Securities Co., Ltd. acted as the financial advisor, Allbright Law Offices acted as the legal advisor and Pan-China Certified Public Accountants acted as the accountant to Ningbo Huaxiang Electronic Co., Ltd. The transaction received early termination of anti trust approval waiting period on April 8, 2016. On June 15, 2016 the deal terms were revised Ningbo Huaxiang Electronic Co., Ltd (SZSE:002048) will now acquire Ningbo Lawrence Automotive Interiors Co., Ltd from Ningbo Fengmei Industrial Co., Shen Zhongxing, Low Tai Huat and Shanghai Fanshi Investment Advisory Enterprise (Limited Partnership) Ltd for CNY 1.9 billion. As of September 29, 2016, the terms of the transaction were amended. The consideration for the transaction was changed to CNY 1.3 billion to be paid in cash. The amendment to the transaction was approved by the board of directors of Ningbo Huaxiang Electronic Co., Ltd. On the same day, the transaction was unanimously approved by the shareholders of Ningbo Fengmei Industrial Co., Ltd. Ningbo Lawrence Automotive Interiors Co., Ltd. reported total assets of CNY 1.87 billion, total equity of CNY 143.17 million, revenue of CNY 2.06 billion, operating profit of CNY 34.33 million, and net profit of CNY 8 million for the year ending December 31, 2015. The transaction is still subject to shareholders’ approval of Ningbo Huaxiang Electronic Co., Ltd. Donghai Securities Co. Ltd. will now act as financial advisor to Ningbo Huaxiang Electronic Co., Ltd. Ningbo Huaxiang Electronic Co., Ltd (SZSE:002048) completed the acquisition of Ningbo Lawrence Automotive Interiors Co., Ltd from Ningbo Fengmei Industrial Co., on November 4, 2016.