Beijing Worldia Diamond Tools Co.,Ltd. (SHSE:688028) singed a Framework Agreement to acquire Shenzhen Xinjinquan Precision Technology Co., Ltd. from Qianhai Yitao No. 1 Equity Investment Fund Partnership (Limited Partnership) and other individual sellers for approximately CNY 700 million on January 6, 2022. As of June 21, 2022 Beijing Worldia Diamond Tools Co.,Ltd. (SHSE:688028) plan to issue shares and paid cash for the company to purchase assets and private placement to raise supporting funds and related transactions Under the terms, Beijing Worldia Diamond will pay the consideration as 30% in cash and 70% in shares to Zhang Sulai, Zhong Shujin, Shenzhen Qianhai Yitao No. 1 Equity Investment Fund Partnership (Limited Partnership), Chen Xiaohua, Li Huixiang, Yu Zhengxi, Hu Detian, Zhong Qin, Chen Pengyue, Le Xiaojuan, Tian Suzhen, Huang Guihua, Wang Chaobing, Cai Weiwei , Li Huiqun, Li Gang, Wang Jun, Liang Yuanping, Wen Miaofa, Zhong Junfeng, Wei Zuqiang, Sun Junpan, Zhong Hejun, Liu Ridong, Li Yue, Xuan Jiong, Zhong Huashan, Dou Mingqian, Huang Wen, Zhong Shusheng and Zhang Bing. Beijing Worldia Diamond will be raising not more than CNY 486.9 million supporting funds of which CNY 208.9 million will be used to to finance the consideration. The transaction is approved by the board of directors and still needs to be approved by the shareholders of Beijing Worldia. The transaction has been approved by the shareholders of Beijing Worldia Diamond Tools Co.,Ltd. CSC Financial Co., Ltd. (SEHK:6066) acted as financial advisor and Beijing Jincheng Tongda Law Firm acted as legal advisor to Beijing Worldia.
As on May 10, 2022, Annual General Meeting of Beijing Worldia Diamond Tools Shareholders held and 2021 profit distribution has been reviewed and approved. The number of shares issued in this transaction was adjusted from 15,001,517 shares to 15,089,743 shares due to Beijing Worldia Diamond's 2021 profit distribution adjustment after the issue price was adjusted.

Beijing Worldia Diamond Tools Co.,Ltd. (SHSE:688028) completed the acquisition of Shenzhen Xinjinquan Precision Technology Co., Ltd. from Qianhai Yitao No. 1 Equity Investment Fund Partnership (Limited Partnership) and other individual sellers on August 22, 2022.