Hangzhou Century Co., Ltd. (SZSE:300078) agreed to acquire Ewell Technology Co., Ltd. from a group of sellers for CNY 1.1 billion in cash on April 20, 2015. On April 27, 2015, Hangzhou Century Co., Ltd. (SZSE:300078) signed an agreement to acquire Ewell Technology Co., Ltd. from a group of sellers. The group of sellers include Hangzhou Runming Equity Investment Partnership (limited Partnership), Shaoxing Kaitai Technology Investment Partnership (limited partnership), Hangzhou Kaitai Growth Venture Capital Partnership (limited partnership), Zhejiang Haibang Talent Venture Capital Partnership (limited partnership), Shanghai Ruijingda Venture Capital Co., Ltd., Zhejiang Sinowisdom Fuhua Venture Capital Partnership (limited partnership), Zhuhai Huahong Jinrun Venture Capital Partnership Enterprise (L.P.), Hangzhou Kaitai Chuangxin Investment Partnership (limited partnership), Hangzhou Qiyin Venture Capital Co., Ltd., Zhejiang Sinowisdom Bluestone Venture Capital Co., Ltd., Zhang Lizhong, Shanghai Ewell Industry Co., Ltd, Zhou Mingming, Wang Fugen, Chen Fanghua, Wang Xiaoye, Li Ji, Zuo Kang, Yu Zhen, Peng Jun, He Guoping, Zheng Lingjun, Wang Jianbin, Zhou Xuan, Shen Liping and Huang Biao.

The transaction will be carried out in two phases. Within 1 month upon the approval of the shareholders meeting of Hangzhou Century Co., Ltd. and obtaining the compliance confirmation of the shares of stock transfer agreement application of the listed company from the stock exchange and other regulatory agencies, Hangzhou Century Co., Ltd. will acquire the 69.14% stake in Ewell Technology Co., Ltd. held by the 25 transaction counterparties and Hangzhou Century will acquire 30.86% stake from Shanghai Ewell Industry Co., Ltd in January 2016.

Hangzhou Century will pay CNY 167.26 million to Zhang Lizhong, Peng Jun, He Guoping and Zheng Lingjun and CNY 481.19 million to Hangzhou Runming Equity Investment Partnership (limited Partnership), Shaoxing Kaitai Technology Investment Partnership (limited partnership), Hangzhou Kaitai Growth Venture Capital Partnership (limited partnership), Zhejiang Haibang Talent Venture Capital Partnership (limited partnership), Shanghai Ruijingda Venture Capital Co., Ltd., Zhejiang Sinowisdom Fuhua Venture Capital Partnership (limited partnership), Changsha Huahong Jinrun Venture Capital Partnership (limited partnership), Hangzhou Kaitai Chuangxin Investment Partnership (limited partnership), Hangzhou Qiyin Venture Capital Co., Ltd., Zhejiang Sinowisdom Bluestone Venture Capital Co., Ltd., Zhou Mingming, Wang Fugen, Chen Fanghua, Wang Xiaoye, Li Ji, Zuo Kang, Yu Zhen, Wang Jianbin, Zhou Xuan, Shen Liping and Huang Biao. Hangzhou Century will acquire 30.86% stake from Shanghai Ewell Industry Co., Ltd for CNY 438.79 million.

After completion of the transactions, Ewell Technology Co., Ltd. will become a wholly-owned subsidiary of Hangzhou Century Co., Ltd. Ewell Technology Co., Ltd reported total assets of CNY 451.56 million, total liabilities of CNY 153.45 million, total owners' equity of CNY 298.1 million, revenues of CNY 210.33 million, operating profit of CNY 41.7 million, total profit of CNY 53.94 million and net profit of CNY 44.9 million in 2014.

The transaction is subject to approval of shareholders of Hangzhou Century Co., Ltd. A meeting of shareholders will be held on June 1, 2015. On April 20, 2015, the shareholders of Shanghai Ewell Industry Co., Ltd, Hangzhou Qiyin Venture Capital Co., Ltd, Zhejiang Sinowisdom Bluestone Venture Capital Co., Ltd, Shanghai Ruijingda Venture Capital Co., Ltd agreed for the transaction. On April 20, 2015, managing partner of Hangzhou Runming Equity Investment Partnership (limited Partnership), Changsha Huahong Jinrun Venture Capital Partnership, Hangzhou Kaitai Chuangxin Investment Partnership (limited ), Zhejiang Haibang Talent Venture Capital Partnership , Shaoxing Kaitai Technology Investment Partnership, Hangzhou Kaitai Growth Venture Capital Partnership , Zhejiang Sinowisdom Fuhua Venture Capital Partnership agreed for the transaction. On April 21, 2015, the shareholders of Ewell Technology Co., Ltd approved the transaction. On April 27, 2015, the Board of Hangzhou Century Co., Ltd approved the transaction.

Guosen Securities Co., Ltd. acted as the financial advisor, Zhejiang T&C Law Firm acted as the legal advisor and Pan-China Certified Public Accountants (Special General Partnership) acted as the accountant to Hangzhou Century Co., Ltd. On June 1, 2015 the shareholders of Hangzhou Century Co., Ltd. approved the transaction.