Aerospace Hi-Tech Holding Group Co.,Ltd agreed to acquire Navilight S.A R.L. from GUOXIN International Investment Corporation Limited for approximately CNY 140 million on January 14, 2016. In a related transaction, Aerospace also agreed to acquire Hiwinglux S.A. and IEE S.A. The combined consideration for these acquisitions is CNY 1.75 billion. Aerospace will raise up to CNY 1.67 billion in private placement of shares to fund acquisitions, replenish capital and repay bank loans.

Navilight S.A R.L reported total assets of CNY 238.74 million, total shareholders' equity of CNY 119.69 million, revenues of CNY 0 million, operating profit of CNY 0.87 million and net profit of CNY 0.85 million in 2015. The transaction is subject to approval of National Development and Reform Commission, approval of Ministry of Commerce of the People's Republic of China and approval of China Securities Regulatory Commission. On January 14, 2016, GUOXIN International Investment Corporation Limited agreed to sell 100% stake in Navilight S.A R.L. to Aerospace Hi-Tech Holding Group Co.,Ltd. On January 14, 2016, State-owned Assets Supervision and Administration Commission approved the transaction. On April 8, 2016, the Board of Aerospace Hi-Tech Holding Group Co., Ltd approved the transaction. On April 18, 2016, the transaction plan was filed with State Administration of Science, Technology and Industry for National Defense. On April 28, 2016, State-owned Assets Supervision and Administration Commission of the State Council formally approved the transaction. On May 6, 2016, the shareholders' of Aerospace Hi-Tech Holding Group approved the transaction. On May 26, 2016, Aerospace Hi-Tech Holding Group's Directors approved the deal. On July 25, 2016, this transaction plan has completed recording at the National Development and Reform Commission. As on July 26, 2016, the transaction has been approved by China Securities Regulatory Commission. CITIC Securities Company Limited (SHSE:600030) acted as a financial advisor, Grandway Law Offices acted as a legal advisor and Ernst & Young Da Hua, Grant Thornton China and Ruihua Certified Public Accountants, LLP acted as accountants to Aerospace Hi-Tech Holding Group Co.,Ltd.