Sichuan Changhong Electric Co., Ltd. (SHSE:600839) agreed to acquire Lingbayi Electronic Group Co., Ltd. from Sichuan Jungong Electronics Group Co., Ltd. for CNY 2.2 billion on October 30, 2014. The transaction will be financed through the proceeds of CNY 4 billion from private placement. As of December 31, 2013, Lingbayi Electronic Group had total assets of CNY 2886.34 million, net assets of CNY 1463.45 million, revenues of CNY 1046.54 million and net profit of CNY 97.93 million. The transaction is approved by the Board and shareholders of Sichuan Changhong Electric. On November 28, 2014, a revised agreement was signed. Sichuan Changhong Electric agreed to acquire Lingbayi Electronic Group from Sichuan Jungong Electronics Group Co., Ltd. for CNY 2.2 billion. On January 28, 2015, the State Administration of Science, Technology and Industry for National Defense approved the transaction.

Sichuan Changhong Electric Co., Ltd. (SHSE:600839) cancelled the acquisition of Lingbayi Electronic Group Co., Ltd. from Sichuan Jungong Electronics Group Co., Ltd. on January 18, 2016.