Kingland Technology Co., Ltd. (SZSE:000711) signed an agreement to acquire 56.7% stake in China State Science Dingshi Environmental Engineering Co.,Ltd. from consortium of sellers for approximately CNY 880 million on September 21, 2018. Under the transaction, Kingland Technology will issue 92.8 million shares as consideration. On December 3, 2018, Kingland Technology Co., Ltd. signed an agreement to acquire 56.7% stake in China State Science Dingshi Environmental Engineering Co.,Ltd. from consortium of sellers for approximately CNY 940 million. The consideration shares were adjusted to 147 million. In a related transaction, Kingland Technology plans to raise supporting funds of not more than approximately CNY 230 million to not more than 10 investors. During the financial year ended December 2017, China State Science Dingshi Environmental reported revenues of CNY 337.66 million and net profit of CNY 48.1 million. China State Science Dingshi Environmental reported total assets of CNY 400.98 million and net assets of CNY 183.5 million as at December 31, 2017. The transaction is subject to CSRC (Merger, Acquisition and Reorganization Examination Committee of Listed Companies of the China Securities Regulatory Commission) approval and approval from shareholders of Kingland Technology. As on September 21, 2018, transaction has received shareholders’ approval from China State Science Dingshi Environmental and approval of Board of Directors of Kingland Technology. As on October 22, 2018, shareholders of Kingland Technology Co., Ltd. approved the transaction. The Board of Directors of Kingland Technology Co., Ltd. approved the adjusted share issuance on December 3, 2018. As on December 6, 2018, CSRC unconditionally approved for Kingland Technology to issue shares for the transaction. As of January 15, 2019, China Securities Regulatory Commission granted approval to the transaction. Kong Xiangxi and Tian Qiyi of Huatai United Securities Co., Ltd. acted as financial advisors, Huang Renzhong and Liu Zhihui of King & Wood Mallesons acted as legal advisors and Zhang Xuan and Chen Qiuxia of ShineWing Certified Public Accountants Co., Ltd. acted as accountants to Kingland Technology Co., Ltd. Kingland Technology Co., Ltd. (SZSE:000711) completed the acquisition of 56.7% stake in China State Science Dingshi Environmental Engineering Co.,Ltd. from consortium of sellers on January 21, 2019.