Shenzhen Infogem Technologies Co., Ltd. (SZSE:300085) agreed to acquire Huibo Co., Ltd. from Zhao Fang, Wang Lijun and Wen Yu for CNY 840 million on November 27, 2017. Shenzhen Infogem Technologies Co., Ltd. signed an acquisition of assets through the issuance of shares and cash agreement to acquire Huibo Co., Ltd. from Zhao Fang, Wang Lijun and Wen Yu on November 30, 2017. Under the terms of the transaction, Shenzhen Infogem Technologies Co., Ltd. will issue 29.7 million shares and pay cash of CNY 400 million to the sellers as consideration. Zhao Fang, Wang Lijun and Wen Yu will sell 45%, 35% and 20% stake in Huibo Co., Ltd., respectively. Shenzhen Infogem Technologies Co., Ltd. plans to raise supporting funds of not more than CNY 440 million by issuing shares to not more than 5 investors, and the proceeds will be used to pay for the cash consideration of the acquisition. On May 31, 2018, the terms of the transaction were amended. Shenzhen Infogem Technologies Co., Ltd. will now pay CNY 330 million in cash and will issue 24.95 million shares as consideration and the cash consideration will be funded through a private placement of not more than CNY 370 million. Huibo Co., Ltd. had total assets of approximately CNY 130 million, net assets of CNY 59.5 million, revenue of approximately CNY 170 million, EBIT of CNY 48.6 million and net profit of CNY 42 million in 2016. The transaction is subject to approval by Shenzhen Infogem Technologies Co., Ltd.'s directorate after the target assets’ audit and assessment work are completed, approval of the shareholders of Shenzhen Infogem Technologies Co., Ltd and CSRC's approval. On November 27, 2017, Huibo Co., Ltd. held a shareholders meeting, and approved the transaction. The transaction has been approved by the Board of Directors of Shenzhen Infogem Technologies Co., Ltd. during the 8th meeting of the 4th directorate on November 30, 2017. The amendment to the transaction was approved by the Board of Shenzhen Infogem Technologies Co., Ltd. on May 31, 2018. Huaying Securities Co., Ltd. acted as the financial advisor, Zhongyin Law acted as legal advisor and Ruihua Certified Public Accountants, LLP acted as accountant to Shenzhen Infogem Technologies Co., Ltd.