Soyea Technology Co.,Ltd. (SZSE:000909) agreed to acquire Hangzhou Westlake Soyea Software Park Co., Ltd. from West Lake Electronics Group Co., Ltd. for CNY 1 billion on April 15, 2019. Consideration of CNY 500 million will be paid by issuance of 63.4 million shares at CNY 7.89 per share and CNY 500 million will be paid in cash. At the same time, Soyea Technology Co.,Ltd. will issue shares to not more than 10 specific investors to raise funds for the acquisition. For the year ended December 31, 2018, Hangzhou Westlake Soyea Software Park has revenue of CNY 23.9 million, operating loss of CNY 6.6 million, total asset of CNY 598 million, owners equity of CNY 381 million and net loss of CNY 4.8 million. Transaction is conditional upon approval of State-owned assets supervision and administration department, Soyea shareholders’ meeting and CSRC. On March 7, 2019, West-lake Electronics Group held its directorate, decided to transfer 100% stake in Soyea Software Park to Soyea Technology Co.,Ltd. On April 15, 2019, the 22nd session of the company’s 7th directorate approved this major asset reorganization. Tian Shangqing, Liu Jiaxia, Qin Jing, Wang Zhen, Sun Zhe, Zhao Sheng and Sun Zhenyu of Minsheng Securities Co., Ltd. acted as financial advisor and Lv Chonghua and Yu Ye of T&C Law Firm acted as legal advisor, Yang Duanping and Li Hong of Zhonghui Certified Public Accountants, and Lv Hongren and Ma Shixin of China Audit Asia Pacific Certified Public Accountants LLP acted as accountants for Soyea Technology Co.,Ltd. (SZSE:000909). Soyea Technology Co.,Ltd. (SZSE:000909) cancelled the acquisition of Hangzhou Westlake Soyea Software Park Co., Ltd. from West Lake Electronics Group Co., Ltd. on August 29, 2019. On August 29, 2019, Soyea Technology held its 7th directorate’s 26th meeting and approved the decision to terminate this major asset restructuring matter.