SG Micro Corp (SZSE:300661) signed an agreement to acquire remaining 71.3% stake in Eta Solutions Co. Limited from Shenzhen Maiketong Electronic Technology Co., Ltd., Shanghai Yubo Enterprise Management Consulting Center (Limited Partnership), Shanghai Jinweili Enterprise Management Consulting Center (Limited Partnership), Shanghai Yitiai Enterprise Management Consulting Center (Limited Partnership), Peng Yin and An Xinshang for CNY 1.7 billion on December 19, 2019. As per the terms of agreement, SG Micro Corp shall issue 5.8 million shares and pay CNY 196 million in cash for the consideration. As per agreement, SG Micro Corp shall acquire 10% stake from Shenzhen Maiketong Electronic Technology Co., Ltd., approximately 31.79% stake from Shanghai Yubo Enterprise Management, approximately 9.64% stake from Shanghai Jinweili Enterprise Management, approximately 8.88% stake from Shanghai Yitiai Enterprise Management Consulting Center (Limited Partnership), 9% stake from Peng Yi and 2% stake from An Xinshang. After completion SG Micro Corp shall hold 100% stake in Eta Solutions Co. Limited. SG Micro Corp shall issue shares of CNY 219.5 million to specific investors to raise the supporting funds which will be used to pay the consideration, transaction related fees and working capital requirements. For the year ending December 31, 2018, total asset, total common equity, revenue, operating profit and net profit of Eta Solutions Co. Limited was approximately CNY 97.6 million, approximately CNY 74.7 million, approximately CNY 120 million, approximately CNY 30.7 million and approximately CNY 25.1 million respectively. The transaction was approved by the Board of Directors of SG Micro Corp at the 13th session of the 3rd directorate. The transaction is subjected to the approval of Board of Directors of of SG Micro Corp again after the issuance of audit and appraisal report, shareholders of SG Micro Corp and approval of CSRC. As on December 19, 2020, the transaction was approved by the shareholders of Eta Solutions Co., Ltd. The supplemental agreement was approved by the shareholders of Eta Solutions on March 30, 2020. As on March 30, 2020, the Director of SG Micro Corp approved the transaction. On May 11, 2020, SG Micro Corp held the first extraordinary general meeting of shareholders in 2020, and reviewed and approved the relevant proposals on the issuance of shares and the payment of cash to purchase assets and raise matching funds. The issue price for the asset acquisition is CNY 100 per share and hence the transactional price is changed to CNY 1069.5 million. On August 6, 2020, SG Micro Corp held the 17th meeting of the third board of directors and reviewed and approved the supplementary agreement two. Zhang Youjun, Peng Jie, Liu Yulin, Xiong Qian, Chen Hao and Hong Huizhong of Citic Securities Co., Ltd. acting as an independent financial advisor to SG Micro Corp for the transaction. Xiao Wei, Shi Tiejun and Chen Yi of Junhe Law Offices acted as legal advisor and Xu Hua, Wei Qiaobi and Zhang Liwen of Grant Thornton Certified Public Accountants (Special General Partnership) acted as accountant to SG Micro Corp in the transaction. SG Micro Corp (SZSE:300661) cancelled the acquisition of 71.3% stake in Eta Solutions Co. Limited from Shenzhen Maiketong Electronic Technology Co., Ltd., Shanghai Yubo Enterprise Management Consulting Center (Limited Partnership), Shanghai Jinweili Enterprise Management Consulting Center (Limited Partnership), Shanghai Yitiai Enterprise Management Consulting Center (Limited Partnership), Peng Yin and An Xinshang on October 12, 2020. SG Micro Corp held the eighteenth meeting of the third directorate and under which it reviewed and approved the withdrawal of the application documents for the payment of cash to purchase assets and raise supporting funds, agreeing to the termination of the issuance of shares and paying cash to purchase assets and raising supporting funds and along with that it applied to the Shenzhen Stock Exchange for the withdrawal of relevant application documents.