Guangdong Aiko Solar Energy Technology Co., Ltd. agreed to acquire Shanghai Xinmei Real Estate Co., Ltd. (SHSE:600732) in a reverse merger transaction on January 5, 2019. Under the terms of the deal, Shanghai Xinmei Real Estate Co., Ltd. intends to use all its assets, liabilities and business (except some retained assets) and also issue 1.6 billion shares for the deal. The deal is subject to approval from CSRC, two approvals from the Board of Shanghai Xinmei Real Estate Co., Ltd. and approval from shareholders of Shanghai Xinmei Real Estate Co., Ltd. Gangdong Aiko Solar Energy Technology Co., Ltd. and Shanghai Xinmei Real Estate Co., Ltd. agreed to the transaction on January 5, 2019. First approval of the Board of Directors of Shanghai Xinmei Real Estate Co., Ltd. has been obtained on January 7, 2019. Huatai United Securities Co., Ltd. acted as financial advisor to Shanghai Xinmei Real Estate Co., Ltd. Guangdong Aiko Solar Energy Technology Co., Ltd. cancelled the acquisition of Shanghai Aiko Solar Energy Co., Ltd. (SHSE:600732) in a reverse merger transaction on January 5, 2020.