Ningbo Shuanglin Auto Parts Co.,Ltd. (SZSE:300100) agreed to acquire Shanghai Chengye Automotive Parts Co.,Ltd from consortium of sellers for approximately CNY 460 million on January 16, 2017. Under the terms of the transaction, Ningbo Shuanglin Auto Parts Co.,Ltd. will issue 6.59 million shares at a CNY 35.26 per share and approximately CNY 230 million will be paid in cash. The transaction will be funded by CNY 232.5 million raised in share private placement. During the period ended October 2016, Shanghai Chengye Automotive Parts Co.,Ltd reported total assets of CNY 265 million and net assets of CNY 189.2 million. The transaction is subject to be approved by shareholders of Ningbo Shuanglin Auto Parts Co.,Ltd. and China Securities Regulatory Commission. The transaction has been approved by the Board of Directors and shareholders of Shanghai Chengye Automotive Parts Co.,Ltd. Ningbo Shuanglin Auto Parts Co.,Ltd. (SZSE:300100) agreed to acquire Shanghai Chengye Automotive Parts Co.,Ltd from consortium of sellers for approximately CNY 470 million on February 27, 2017. Under the revised structure of the transaction, Ningbo Shuanglin Auto Parts Co.,Ltd. will pay CNY 465 million in cash. The deal structure was revised due to change in stock price of Ningbo Shuanglin Auto Parts Co.,Ltd. The raising of support funds was also terminated. On February 27, 2017, the transaction plan was modified and approved on directorate meeting and the 2nd extraordinary general meeting of 2017 held on March 15, 2017 reviewed and approved the proposal on be acquisition of asset through cash payment and termination of the raising of supporting funds. Nanjing Securities Co. Ltd. acted as the financial advisor, AllBright Law Offices acted as legal advisor and BDO China SHU LUN PAN Certified Public Accountants LLP acted as an accountant for Ningbo Shuanglin Auto Parts Co.,Ltd.