Will Semiconductor CO., Ltd. Shanghai (SHSE:603501) signed the property transactions contract to acquire Shenzhen Xinli Investment Co., Ltd and Shenzhen Xinneng Investment Ltd. from Ruidian Investment Management Co., Ltd for CNY 1.7 billion on November 28, 2018. Under the terms, Will Semiconductor will pay CNY 1 billion and CNY 678.2 million to acquire Shenzhen Xinli Investment Co., Ltd and Shenzhen Xinneng Investment Ltd respectively. The consideration is paid in cash. Will Semiconductor Co., Ltd. shall pay no less than 30% of the transaction price to the Yunnan Equity Exchange Fund Supervision Account within 5 working days after the effective date of the equity transaction contract signed by Shanghai Ruidian Investment Management Co., Ltd. The remaining transaction price shall be paid within 30 working days from the effective date of the property rights transaction contract. The transaction has been funded by Will Semiconductor self-raised funds. The transaction still needs to be reviewed at the Will Semiconductor directorate and shareholders at the meeting. As on December 4, 2018, transaction has been approved by the Board of Directors of Will Semiconductor Co., Ltd.