Nanjing Huadong Electronics Information & Technology Co., Ltd. (SZSE:000727) agree to acquire remaining 49% stake in TPV Technology Limited from group of sellers for CNY 10.5 billion on September 16, 2020. Under the terms of transaction, Nanjing Huadong Electronics Information & Technology Co., Ltd will acquire 1149.3 million shares of TPV at CNY 1.9 per share and will issue 4035.2 million shares in consideration. Sellers include China Electronics Corporation, China Huadian Corporation Ltd.,China Electronics Industry Engineering Co., Ltd, China Ruida Investment Development Group Co., Ltd., Bonstar International Limited and Innolux Corporation (TSEC:3481). Shares have a lock up period of 36 months in the case of China Electronics Corporation, Huadian Corporation, China Electronics Industry Engineering Co., Ltd and China Ruida Investment Development Group Co., Ltd. For Innolux Optoelectronics Co., Ltd and Bonstar International Limited, lock up period is 12 months. Nanjing Huadong Electronics intends to raise supporting funds from no more than 35 qualified investors through non-public issuance of stocks. If the amount of matching funds raised is insufficient to meet the investment needs of related projects, the listed company will make up the difference through its own funds or self-raised funds. The transaction plan has been reviewed and approved at the tenth extraordinary meeting of the ninth board of directors of the Nanjing Huadong Electronics Information & Technology Co. Transaction is subject to approval of the China Securities Regulatory Commission. The number of ordinary shares to be issued is ultimately subject to the number approved by the shareholders' meeting of the Nanjing Huadong Electronics company and approved by the China Securities Regulatory Commission. The transaction needs to be approved by the national development and reform authorities, commercial authorities, and foreign exchange authorities have completed the filing/registration procedures (if necessary) for overseas investments involved in this transaction and Other possible approvals or approvals required by relevant laws and regulations. After the completion of the comprehensive due diligence, audit, evaluation or valuation of the target company involved in this transaction, the listed company will once again convene the board of directors to review the formal plan of the transaction. Citi Securities company limited acted as financial advisor, Jiang Xueyan, Ding Jidong and Dai Tingting of Fangda Partners acted as legal advisors and Chen Wenfeng and Mo Chenglin of PricewaterhouseCoopers Zhongtian Certified Public Accountants (Special General Partnership) acted as accountant to Nanjing Huadong Electronics Information & Technology Co., Ltd. As of September 17, 2021, The counterparty of this reorganization has fulfilled and passed the internal decision-making review procedures and agreed to the transaction plan, The State-owned Assets Supervision and Administration Commission of the State Council has completed the filing of the target asset evaluation report, The transaction plan has been approved by the State-owned Assets Supervision and Administration Commission of the State Council, The transaction plan has been reviewed and approved by the shareholders' meeting of the listed company and it has been agreed that China Electronics and its related parties are exempted from issuing takeover offers and The national development and reform authorities have completed the filing of overseas investments by listed companies.

Nanjing Huadong Electronics Information & Technology Co., Ltd. (SZSE:000727) cancelled the acquisition of remaining 49% stake in TPV Technology Limited from group of sellers on October 21, 2022.