SUNA Co.,Ltd (SZSE:002417) signed a letter of intent to acquire Weihai Yihe Special Equipment Manufacturing Co., Ltd. from Zhao Meiguang, Zhong Xiuxia and Ren Yiguo on May 12, 2019. SUNA Co.,Ltd entered into an agreement to acquire Weihai Yihe Special Equipment Manufacturing Co., Ltd. from Zhao Meiguang, Zhong Xiuxia and Ren Yiguo on May 13, 2019. The consideration will be paid in cash and stock. Under the terms, SUNA will issue each shares at CNY 8.07. The cash portion of consideration will be financed through issuance of shares through private placement. For the year ended December 31, 2018, Weihai Yihe Special reported total assets of CNY 493.1 million, net assets of CNY 131.5 million, total profit of CNY 37.5 million and net profit of CNY 32.5 million. The transaction is subject to approval by shareholders of SUNA and approvals from China Securities Regulatory Commission. The transaction has been approved by the Board of Directors of SUNA on May 13, 2019. As of July 13, 2019, the transaction was approved by the State Administration of Science, Technology and Industry for National Defense. SUNA Co.,Ltd (SZSE:002417) cancelled the acquisition of Weihai Yihe Special Equipment Manufacturing Co., Ltd. from Zhao Meiguang, Zhong Xiuxia and Ren Yiguo on May 12, 2020.