Wuxi Longsheng Technology Co., Ltd (SZSE:300680) agreed to acquire Wuxi Micro Research Precision Press-Parts Co., Ltd from Tan Yuanzhi, Wuxi Kaili Investment Co., Ltd., Qin Chunsen, Wang Yong, and Yao Banghao for CNY 300 million on January 18, 2018. Tan Yuanzhi will sell 50.76% stake for CNY 32.25 million cash and 3.86 million shares, Wuxi Kaili Investment Co., Ltd. will sell 15% stake for CNY 22.5 million cash and 0.72 million shares, Qin Chunsen will sell 14.82% stake for CNY 24.78 million cash and 0.63 million shares, Wang Yong will sell 13.87% stake for CNY 8.82 million cash and 1.05 million shares, and Yao Banghao will sell 5.55% stake for CNY 16.65 million cash. As on June 4, 2018, Wuxi Longsheng Technology revised its share portion of consideration with a revision of issue price on these to be issued shares. As per the revision, with no change to cash component, Tan Yuanzhi will receive 3.89 million shares of Wuxi Longsheng instead of 3.86 million shares, Wuxi Kaili Investment will receive 0.73 million shares of Wuxi Longsheng instead of 0.72 million shares, Qin Chunsen will receive 637 thousand shares of Wuxi Longsheng instead of 633 thousand shares and Wang Yong will receive 1.06 million shares instead of 1.05 million shares. The issue price on June 4, 2018 was revised from CNY 31.09 to CNY 30.89 per Wuxi Longsheng share. The transaction is subject to Wuxi Longsheng Technology Co., Ltd’s shareholders’ approval and China Securities Regulatory Commission approval. On January 18, 2018, shareholders of Wuxi Micro Research Precision Press-Parts Co., Ltd. and Wuxi Kaili Investment Co., Ltd approved the transaction. On January 19, 2018, Wuxi Longsheng Technology Co., Ltd held the meeting of the Directorate, and approved the transaction. On February 26, 2018, the transaction has been approved by the shareholders of Wuxi Longsheng Technology Co., Ltd. As on May 3, 2018, the 23rd Mergers & Acquisitions Reorganization Committee of the China Securities Regulatory Commission's Listed Company Mergers and Acquisitions Reorganization Committee approved the transaction. As on July 4, 2018, Wuxi Longsheng Technology Co., Ltd has received the approval of China Securities Regulatory Commission. Wang Zhidan and Hong Min of China Securities Co., Ltd. acted as financial advisors; Shen Guoquan and Yu Zhenhua of AllBright Law Offices acted as legal advisors while Pan Yongxiang and Feng Jianli of BDO China SHU LUN PAN Certified Public Accountants LLP acted as accountants for Wuxi Longsheng Technology Co., Ltd.