TCL Technology Group Corporation (SZSE:000100) agreed to acquire 39.95% stake in Wuhan China Star Optoelectronics Technology Co., Ltd. from Wuhan Optics Valley Industrial Investment Co., Ltd. for CNY 4.4 billion on April 28, 2020. As on May 29, 2020, TCL Technology will issue 511.5 million shares, issue CNY 600 million worth of convertible bonds and CNY 1.6 billion in cash as consideration. TCL Technology Group Corporation will raise supporting funds of not more than CNY 2.6 billion and not more than 100% of the acquisition price, by issuing shares and convertible bonds. TCL Technology Group Corporation will issue not more than 30% of total share capital at CNY 3.56 per share, and not less than 80% of the average price in the 20 trading days before the pricing reference date, to raise not more than CNY 1.2 billion and issue 14 million bonds at CNY 100 per bond to raise not more than CNY 1.4 billion. For the year ended December 31, 2019, Wuhan China Star Optoelectronics Technology Co., Ltd. reported total assets of CNY 23.4 billion, total common equity of CNY 9.4 billion, total revenues of CNY 13 billion, operating income of CNY 680.9 million and net income of CNY 613 million. The transaction is subject to State-owned Assets Supervision Department’s Filing of the Audit Report and approval of the official transaction, TCL Technology Group Corporation's Directorate’s approval, TCL Technology Group Corporation's shareholders’ approval and CSRC's approval. The transaction was approved by the 26th Meeting of the TCL Technology Group’s 6th Directorate. China Securities Regulatory Commission approved the transaction on September 17, 2020. CITIC Securities Company Limited acted as financial advisor, Jiayuan Law acted as legal advisor and Moore Stephens Da Hua acted as an accountant to TCL Technology Group Corporation. TCL Technology Group Corporation (SZSE:000100) completed the acquisition of 39.95% stake in Wuhan China Star Optoelectronics Technology Co., Ltd. from Wuhan Optics Valley Industrial Investment Co., Ltd. on October 19, 2020. Wuhan China Star Optoelectronics Technology Co., Ltd. obtained the "Notice of Approval of Change Registration" issued by Wuhan Municipal Market Supervision Administration ([2020] No. 20312). The target assets involved in this reorganization have completed the delivery procedures.