Shanghai Luxin Packing Materials Science & Technology Co., Ltd. (SZSE:002565) agreed to acquire 15% stake in Fujian Taixing Special Paper Co Ltd from Lin Shuxia for CNY 150 million in cash on July 4, 2014. In a related transaction, Shanghai Luxin also agreed to acquire 26% stake in Dali Meideng Printing Limited Company, 60% stake in Yuxi Printing Co., Ltd. and 56% stake in Qujing Fupai Color Printing Co., Ltd. The deal is funded through the proceeds of private placement. Within 10 days after Shanghai Luxin's Directors' approval agreement, Shanghai Luxin will pay 10% of the share transfer price, within 10 days after the completion of the share transfer's change of business registration, Shanghai Luxin will pay 40% of the share transfer price and within 10 days after the private placement's proceeds are in place, the remaining amount will be a one-time payment.

Fujian Taixing had total assets of CNY 420.44 million, owner's equity of CNY 241.33 million, revenues of CNY 568.28 million, operating profit of CNY 113.53 million and net profit of CNY 90.35 million for the year ending December 31, 2013. The deal was approved by Board of Directors of Shanghai Luxin Packing Materials Science & Technology on July 4, 2014.