Zhejiang Great Southeast Corp.Ltd (SZSE:002263) agreed to acquire 97.34% stake in Dalian Jinma Boron Technology Group Co., Ltd. from 147 individuals for CNY 1.8 billion on July 6, 2018. As on July 25, 2018, acquisition of asset through share issuance agreement was signed for the deal. Under the terms of the deal, Zhejiang Great Southeast Corp.Ltd will issue 731 million shares at an issue price of CNY 2.53 per share for the deal. For the year ending December 31, 2017, Dalian Jinma Boron Technology Group Co., Ltd. reported total assets of CNY 2.7 billion, owner’s equity of CNY 1.7 billion, revenue of CNY 478.8 million, operating profit of CNY 88.1 million and net profit of CNY 84.2 million. The deal is subject to approval of China Development Fund Co., Ltd., Zhejiang Great Southeast Corp.Ltd needing to hold another directorate to approve the transaction, approval of shareholders of Zhejiang Great Southeast Corp.Ltd and approval of CSRC. As on July 6, 2018, Dalian Jinma Boron Technology Group Co., Ltd. held its shareholders’ meeting and approved the transaction. As on July 25, 2018, the 34th session of Zhejiang Great Southeast Corp.Ltd's 6th directorate approved the acquisition. China Great Wall Securities Co., Ltd. acted as financial advisor to Zhejiang Great Southeast Corp.Ltd. Zhejiang Great Southeast Corp.Ltd (SZSE:002263) cancelled the acquisition of 97.34% stake in Dalian Jinma Boron Technology Group Co., Ltd. from 147 individuals on July 6, 2019.