Suzhou Jinfu Technology Co., Ltd. (SZSE:300128) intends to acquire 70% stake in Suzhou Industrial Park Jiutai Precision Electronics Co., Ltd. from Yongxin Jiachen Business Information Consulting Center (Limited Partnership) and Ning Xin for approximately CNY 690 million on September 10, 2020, Suzhou Jinfu Technology Co., Ltd. (SZSE:300128) signed an agreement to acquire 70% stake in Suzhou Industrial Park Jiutai Precision Electronics Co., Ltd. from Yongxin Jiachen Business Information Consulting Center (Limited Partnership) and Ning on September 17, 2020. Suzhou Jinfu Technology will acquire 28% stake in Suzhou Industrial Park Jiutai Precision Electronics from Yongxin Jiachen Business Information Consulting Center by way of cash payment. Suzhou Jinfu Technology will pay CNY 224 million in cash. Suzhou Jinfu Technology will acquire 42% stake in Suzhou Industrial Park Jiutai Precision Electronics from Ning Xin by way of shares issuance. Suzhou Jinfu Technology will issue 98.8 million shares as consideration. Suzhou Jinfu Technology will issue shares to raise supporting funds of not more than CNY 336 million to fund the transaction. Suzhou Industrial Park Jiutai Precision Electronics reported total revenue of CNY 477.5 million, total assets of CNY 420.01 million, net income of CNY 65.3 million and net assets of CNY 260.3 million for the year ending, December 31, 2019. The transaction is subject to approval of the shareholders of Suzhou Jinfu Technology, Shenzhen Stock Exchange, approval of China Securities Regulatory Commission for registration and after the completion of audit and appraisal works and another Directorate approval of Suzhou Jinfu Technology. The Board of Suzhou Jinfu Technology approved the transaction on September 17, 2020. The transaction was approved at the shareholders’ meeting of Suzhou Industrial Park Jiutai Precision Electronics Co., Ltd. and partners’ meeting of Yongxin Jiachen on September 10, 2020. On October 27, 2020, the Jiangsu Taixing High-tech Industrial Development Zone Management Committee authorized Taixing Zhiguang Environmental Protection Technology Co., Ltd. to review Suzhou Jinfu Technology Co., Ltd’s reorganization. On October 28, 2020, Taixing Zhiguang Environmental Protection Technology Co., Ltd. approved the reorganization and filed the assessment reports. On November 10, 2020, Suzhou Jinfu Technology Co., Ltd. held the 5th (Extraordinary) Meeting of the 5th Directorate, and approved the transaction. On December 14, 2020, Suzhou Jinfu Technology Co., Ltd. held the sixth (temporary) meeting of the fifth board of directors and reviewed and approved the transaction. On March 15, 2021, the State Administration for Market Regulation issued the "Concentration of Undertakings Anti-monopoly Review Does Not Implement Further Examination Decision" (Anti-monopoly Review Decision [2021] No. 142), agreeing that Jinfu Technology will implement the concentration from now on. On March 19, 2021, Jinfu Technology held the first (temporary) general meeting of shareholders in 2021, and reviewed and approved the transaction draft. On April 12, 2021, Jinfu Technology convened the ninth (temporary) meeting of the fifth board of directors, and reviewed and approved the draft (revised draft) after the transaction updated the 2020 financial data. On April 21, 2021, the Shenzhen Stock Exchange checked the report on the issuance of shares to purchase assets and raised supporting funds and accepted it but is still need to be reviewed by Exchange, and the China Securities Regulatory Commission must approve the registration decision before it can be implemented. On March 15, 2021, the State Administration for Market Regulation issued the "Concentration of Undertakings Anti-monopoly Review Does Not Implement Further Examination Decision" (Anti-monopoly Review Decision [2021] No. 142), agreeing that Jinfu Technology will implement the concentration from now on. As on June 30, 2021, Suzhou Jinfu Technology requested Shenzhen Stock Exchange to suspend review of the transaction as it has to revise the financial data of Suzhou Industrial Park. Fan Jie, Ding Lubin and Shi Li of Huatai United Securities Co., Ltd. acted as financial advisors, Wang Enshun and Wang Qin of Dacheng Law Offices acted as legal advisor and Jing Jianming and Cui Aiping of Jiangsu Talent CPA Co., Ltd. as accountant to Suzhou Jinfu Technology Co., Ltd. Suzhou Jinfu Technology Co., Ltd. (SZSE:300128) cancelled the acquisition of 70% stake in Suzhou Industrial Park Jiutai Precision Electronics Co., Ltd. from Yongxin Jiachen Business Information Consulting Center (Limited Partnership) and Ning Xin on August 27, 2021. The supervisory board of Suzhou Jinfu Technology Co., Ltd. has approved to terminate the transaction.