Yunnan Tourism Co., Ltd. (SZSE:002059) entered into an agreement to acquire Shenzhen OCT Vision INC. from Overseas Chinese Town Enterprises Co, Li Jian, aoluo for CNY 2 billion on July 30, 2018. Yunnan Tourism Co., Ltd will acquire 60%, 12.80%, 9.60%, 9.60% stake in Shenzhen OCT Vision INC. from Overseas Chinese Town Enterprises, Li Jian, Wen Hongguang, Jia Baluo respectively by way of issuance of 278.9 million shares and will acquire 3.20%, 2.40%, 2.40% stake in Shenzhen Oct Vision Inc from Li Jian, Wen Hongguang, Jia Baoluo respectively by way of cash payment of CNY 161.3 million. As of September 20, 2018, the consideration shares are revised to 279 million and cash consideration is revised to CNY 161.4 million. As of May 31, 2019, Yunnan Tourism Co., Ltd. will issue 281.Wen Hongguang and Jia B6 million consideration shares. Shenzhen OCT Vision INC. reported total assets of CNY 993.1 million and net assets of CNY 419.1 million as of December 31, 2017 and revenues of CNY 411.9 million, operating profit of CNY 179.6 million and net profit of CNY 154.9 million for the year ended December 31, 2017. The transaction is subject to approval of formal plan by Board and shareholders of Yunnan Tourism Co., Ltd, State-owned Assets Supervision and Administration department and China Securities Regulatory Commission. The transaction is approved by Overseas Chinese Town Enterprises Co and individual shareholders of Shenzhen OCT Vision INC. This transaction already obtained the approval in principle of the State-owned Assets Supervision and Administration department. The transaction is approved by the board of Yunnan Tourism Co., Ltd. As of February 28, 2019, the transaction has been approved by the 31st (provisional) meeting of the 6th Board of directors of Yunnan Tourism Co., Ltd., the State-owned Assets Supervision and Administration Department of the State Council, and third extraordinary shareholders meeting in 2018 of Yunnan Tourism Co., Ltd. The approval from the CSRC is still pending. As of April 8, 2019, the transaction was approved by China Securities Regulatory Commission. Qu Yaohui, Yu Mengyao, Wu Weisi, Wu Caojian, Lu Zidong, Huang Xiao, Luo Xiangyu and Chen Yihao of CITIC Securities Company Limited (SHSE:600030) acted as financial advisors, Wang Lixin and Sun Haotian of King & Wood PRC Lawyers acted as legal advisors and Zhang Wei and Yang Wenhua of ShineWing Certified Public Accountants (Special General Partnership) acted as accountants for Yunnan Tourism Co., Ltd. Tang Qimei and Liu Jianhua of Ruihua Certified Public Accountants (Special General Partnership) acted as accountants for Shenzhen OCT Vision INC. Sun Qingfeng and Zheng Xiaofang of Beijing Zhongqihua Assets Evaluation Co., Ltd. acted as asset appraisal agency to Yunnan Tourism Co., Ltd.