TECH SEMICONDUCTORS CO.,LTD (SZSE:300046) signed an agreement to acquire Shanghai Runjin Media from Zhangshu Xima Investment Management Center (LP), Shanghai SMG Pictures Co., Ltd., Song Zhirong, Han Xue, Zhao Xiaoding and Wu Linli for approximately CNY 810 million on September 5, 2016. Under the terms of the agreement, Tech Semiconductors Co., Ltd will pay CNY 142 million in cash and will issue 33.94 million shares at CNY 19.67 per share. As of May 12, 2017, TECH SEMICONDUCTORS CO.,LTD signed an agreement to acquire Shanghai Runjin Media from Zhangshu Xima Investment Management Center (LP), Shanghai SMG Pictures Co., Ltd., Song Zhirong, Han Xue, Zhao Xiaoding and Wu Linli for approximately CNY 770 million. Tech Semiconductors Co., Ltd will now issue 34.03 million shares as consideration. The transaction will be financed from a private placement of CNY 620 million. As reported on May 4, 2017, TECH SEMICONDUCTORS will raise CNY 500 million to fund the transaction. For the year ended December 31, 2015, Shanghai Runjin Media Co., Ltd. reported total assets of CNY 126.7 million, revenues of CNY 65.3 million, net income of CNY 22.7 million, operating profit of CNY 32.1 million and net assets of CNY 55 million. This transaction needs second approval from the Directorate of TECH SEMICONDUCTORS after the completion of the underlying asset’s audit and evaluation and the determination of the transaction price as well. The deal is also subject to approval from China Securities Regulatory Commission Merger and Reorganization Examination Committee and CSRC. The Board of TECH SEMICONDUCTORS approved the deal. The Board of Shanghai Runjin Media and partners meeting of Zhangshu Xima Investment Management Center approved the transaction on February 20, 2017. The shareholders of Shanghai Runjin Media and Shanghai SMG Pictures approved the transaction on February 23, 2017. The Board of Shanghai SMG Pictures approved the transaction on February 23, 2017. The shareholders of TECH SEMICONDUCTORS approved the transaction on March 15, 2017. GP Certified Public Accountants Co Ltd acted as an accountant, Hengtai Changcai Securities Co., Ltd. acted as the financial advisor and Zhongyin Law acted as the legal advisor to TECH SEMICONDUCTORS. TECH SEMICONDUCTORS CO.,LTD (SZSE:300046) cancelled the acquisition of Shanghai Runjin Media from Zhangshu Xima Investment Management Center (LP), Shanghai SMG Pictures Co., Ltd., Song Zhirong, Han Xue, Zhao Xiaoding and Wu Linli on November 12, 2017.