Zhejiang Ruiyuan Intelligent Robot made a preliminary proposal to acquire 74% stake in Ningbo WanHao Holdings Company Limited (SEHK:8249) from Wan Li Group Limited and Qi Yong Qiang recently. Under the terms, the buyer will acquire domestic shares amounting to 61.38% from Wan Li Group and 12.62% stake from Qi Yong Qiang. In a related transaction, an independent third party made an offer to acquire remaining 26% stake in Ningbo WanHao Holdings Company recently. Zhejiang Ruiyuan Intelligent Robot entered into a share transfer agreement to acquire 74% stake in Ningbo WanHao Holdings Company Limited (SEHK:8249) from Wan Li Group Limited and Qi Yong Qiang for CNY 30.7 million on July 11, 2016. Under the terms, Zhejiang Ruiyuan Intelligent Robot will acquire 370 million shares of Ningbo WanHao Holdings Company, of which Wan Li Group will sell 306.9 million shares and Qi Yong Qiang will sell 63.1 million shares. On July 18, 2016, Zhejiang Ruiyuan Intelligent Robot acquired 61.4% stake from Wanli Group. The remaining stake will be transferred within 10 days after six months period from Qi’s resignation as a Director or the close of the offer.