Wuhan Double Co., Ltd (SHSE:600136) agreed to acquire Double-Edged (Suzhou) Sports Cultural Communication Co., Ltd from Jiang Lizhang, Peng Zhangjin, Wuhan Tianfeng Ruiying Investment Center (Limited Partnership) and Tianfeng Ruiyuan (Wuhan) Investment Center (Limited Partnership) for approximately CNY 820 million in stock and cash on July 13, 2015. Wuhan Double will pay CNY 809 million in stock through issuance of 49.66 million shares at CNY 16.29 per share and will pay cash of CNY 11 million. Wuhan Double will pay cash of CNY 11 million and CNY 468 million in stock through issuance of 28.73 million shares to Jiang Lizhang, Wuhan Double will pay CNY 156 million in stock through issuance of 9.58 million shares to Peng Zhangjin, CNY 62 million in stock through issuance of 3.81 million shares to Wuhan Tianfeng Ruiying Investment and CNY 123 million in stock through issuance of 7.55 million shares to Tianfeng Ruiyuan (Wuhan) Investment.

Wuhan Double Co. will raise CNY 600 million through private placement and a portion of the proceeds will be used for cash payment of the transaction. Double-Edged (Suzhou) Sports Cultural Communication Co., Ltd reported total assets of CNY 39.94 million, total liabilities of CNY 30.63 million, total owners' equity of CNY 9.31 million, revenues of CNY 35.87 million, operating profit of CNY 7.31 million, total profit of CNY 7.5 million and net profit of CNY 5.94 million in 2014. The transaction is subject to approval of shareholders of Wuhan Double and approval of audit committee of Mergers and Acquisitions of Listed Companies of China Securities Regulatory Commission and approval of China Securities Regulatory Commission. The shareholders of Double-Edged (Suzhou) Sports Cultural Communication Co., Ltd agreed to the transaction on July 13, 2015. The Board of Wuhan Double approved the transaction on July 16, 2015. As of August 21, 2015, the deal has been approved by the shareholders of Wuhan Double Co., Ltd. As on November 6, 2015, the deal was approved by the China Securities Regulatory Commission.

Sinolink Securities Co., Ltd. acted as the financial advisor, JunZeJun Law Offices acted as the legal advisor, Ruihua Certified Public Accountants and Union Power Certified Public Accountants acted as the accountant to Wuhan Double.

Wuhan Double Co., Ltd (SHSE:600136) completed the acquisition of Double-Edged (Suzhou) Sports Cultural Communication Co., Ltd from Jiang Lizhang, Peng Zhangjin, Wuhan Tianfeng Ruiying Investment Center (Limited Partnership) and Tianfeng Ruiyuan (Wuhan) Investment Center (Limited Partnership) on January 14, 2016.