Chongqing Mas Sci.&Tech. Co., Ltd. (SZSE:300275) signed the acquisition of asset through share issuance and cash payment agreement to acquire remaining 87.9% stake in Chongqing Wecan Precision Instruments Co., Ltd from a group of sellers for approximately CNY 770 million on January 28, 2019. Under the terms of the agreement, Chongqing Mas Sci.&Tech will issue its 83.9 million shares and pay CNY 95.6 million as cash consideration for the transaction. All the shareholders will receive share consideration, except for Chongqing Chengrui Tongxin Internet of Things Technology Partnership Enterprise (LP) which will receive CNY 95.6 million of cash as well as 13.2 million shares of Chongqing Mas Sci.&Tech as consideration. Post completion, Chongqing Mas Sci.&Tech will own 100% stake in Chongqing Wecan Precision Instruments. The cash consideration will be funded through CNY 295.6 million proceeds to be raised by Chongqing Mas Sci.&Tech. Chongqing Wecan Precision Instruments Co., Ltd reported total assets of CNY 662.1 million and net assets of CNY 444.3 million as of December 31, 2018 and revenues of CNY 182.2 million, operating profit of CNY 50.3 million and net profit of CNY 44.9 million for the year ended December 31, 2018. The transaction is subject to approval by shareholders of Chongqing Mas Sci.&Tech. Co., Ltd and another formal approval from the Board of Chongqing Mas Sci.&Tech. Co., Ltd. The transaction is subject to approval by China Securities Regulatory Commission. The transaction is approved by the Board of Chongqing Mas Sci.&Tech and is approved by the internal decision-making bodies of sellers. Donghai Securities Co. Ltd. acted as financial advisor, Beijing Hairun Law Firm acted as legal advisor and Wuyige Certified Public Accountants LLP acted as accountant for Chongqing Mas Sci.&Tech.