Unigroup Guoxin Microelectronics Co., Ltd. (SZSE:002049) intends to acquire Beijing Ziguang Liansheng Technology Co., Ltd. from Tibet Ziguang Shencai Investment Co., Ltd., Tibet Zijin Haikuo Technology Development Co., Ltd., Tibet Zijin Haiyue Electronic Technology Co., Ltd., Hongfeng Capital Investment Management Co., Ltd. and Ningbo Meishan Bonded Port Area Xinhua Equity Investment Management Co., Ltd. for CNY 22.9 billion on May 31, 2019. Unigroup Guoxin will issue approximately 506 million shares at value of CNY 35.51 per share as part of the consideration. As per the deal, Tibet Ziguang Shencai Investment Co., Ltd., Tibet Zijin Haikuo Technology Development Co., Ltd., Tibet Zijin Haiyue Electronic Technology Co., Ltd., Hongfeng Capital Investment Management Co., Ltd. and Ningbo Meishan Bonded Port Area Xinhua Equity Investment Management Co., Ltd. shall receive approximately 380 million, approximately 42.24 million, approximately 42.24 million, approximately 28.16 million, approximately 14.08 million shares respectively. The lock up period for the shares to be issued by Unigroup Guoxin will be 36 months. All parties agreed that the final target asset price shall be determined by an assessment or valuation report issued by an appraisal agency with securities qualifications to evaluate the value of the underlying asset as of the audit evaluation base date, and shall be subject to the state-owned assets supervision and administration department. The final price of the transaction will be disclosed in the restructuring report. The transaction is still subject to the approval of the China Securities Regulatory Commission, state-owned assets supervision and administration department, other approvals that may be required by relevant laws and regulations and the centralized review of the operators of the State Administration of Markets. After the completion of the audit and evaluation work of Beijing Ziguang Liansheng, its shareholders will approve the plan for the transaction, including but not limited to the final transaction price of the underlying asset. The deal is also subject to the Board of Directors of to Unigroup Guoxin review and approve the transaction plan once again and convened a general meeting of shareholders to consider and approve the transaction plan, including but not limited to, agreeing to sign the relevant agreement and other relevant documents of the transaction, and agreeing to the controlling shareholder and its concerted actions. The transaction has been approved by the Directors of Unigroup Guoxin during the 30th meeting of the sixth directorate held on May 31, 2019. As on October 30, 2019, the transaction has been review and approved by the Directors of Unigroup Guoxin during the 34th meeting of the sixth directorate. The transaction has also been approved by the shareholders of Beijing Ziguang Liansheng. As of June 5, 2020, the China Securities Regulatory Commission did not approve the transaction. According to relevant regulations such as the "Administrative Measures on Major Asset Restructuring of Listed Companies" and "Guidelines on Improving the System for the Suspension and Resumption of Stock of Listed Companies" and other relevant regulations, upon application by Unigroup to the Shenzhen Stock Exchange, the Unigroup 's stock resume trading from the market opening on June 8, 2020 (Monday). As on July 2, 2020. Securities regulator rejects the transaction. Credit Suisse Founder acted as the independent financial advisor to Unigroup Guoxin. Zhong Lun Law Firm acted as legal advisor and Moore Stephens Da Hua Certified Public Accountants acted as accountant to Unigroup Guoxin Microelectronics Co., Ltd.