New Hope Liuhe Co., Ltd (SZSE:000876) signed an agreement to acquire 70% stake in Yangling Benxiang Agriculture Co., Ltd from a group of sellers for approximately CNY 620 million on February 15, 2016. New Hope Liuhe Co., Ltd will pay 65% of the transaction price amounting to CNY 400 million by issuance of 23.13 million shares at CNY 17.31 per share and will pay 35% of the transaction price amounting to CNY 215.6 million in cash. Yangling Benxiang Agriculture Co., Ltd reported total assets of CNY 751.25 million, net assets of CNY 290.21 million, net asset attributable to parent company’s owners of CNY 261.91 million, revenues of CNY 495.79 million, operating loss of CNY 13.74 million, net loss of CNY 0.8 million and net loss attributable to parent company’s owners of CNY 0.46 million in 2015. The transaction is subject to the approval of New Hope Liuhe Co., Ltd's another directorate after the issuance of the appraisal result of Yangling Benxiang Agriculture Co., Ltd, approval of the shareholders' of New Hope Liuhe Co., Ltd and approval of the Merger, Acquisition and Reorganization Examination Committee of Listed Companies of the China Securities Regulatory Commission. The transaction must pass the antimonopoly examination of the commercial department. The Board of New Hope Liuhe Co., Ltd and the shareholders' of Yangling Benxiang Agriculture Co., Ltd approved the transaction on February 15, 2016. On February 15, 2016, Xinjiang Zhuofeng Equity Investment Partnership (Limited Partnership) held a partner meeting and agreed to transfer its 27 million shares, Shaanxi Jinhe Technology Venture Capital Co., Ltd held its shareholders’ meeting and approved to transfer its 24.52 million, Yangling Fengyi Equity Investment Management Center (Limited Partnership) held a partner meeting to transfer its 2.95 million shares and Yangling Xiangyuan Equity Investment Management Center (Limited Partnership) held a partner meeting and approved to transfer its 2.55 million shares in Yangling Benxiang Agriculture Co., Ltd. On August 26, 2016, the Ministry of Commerce of the People's Republic of China Anti-monopoly Bureau issued Notice on no Implementation of Further Review for the transaction. As of November 24, 2016, the transaction was approved by the Merger, Acquisition and Reorganization Examination Committee of Listed Companies of the China Securities Regulatory Commission. As of December 28, 2016, the transaction was approved by the China Securities Regulatory Commission. Huatai United Securities Co., Ltd. acted as the financial advisor to New Hope Liuhe Co., Ltd. Tian Yuan Law Firm acted as the legal advisor and Sichuan Hua Xin (Group) CPA Firm acted as the accountant for New Hope Liuhe Co., Ltd. New Hope Liuhe Co., Ltd. (SZSE:000876) completed the acquisition of 70% stake in Yangling Besun Agricultural Industry Group Co., Ltd. Ltd from a group of sellers on January 9, 2017.