Great Chinasoft Technology Co.,Ltd. (SZSE:002453) signed an agreement to acquire Beijing Odyssey Chemicals Co., Ltd. from a group of shareholders for CNY 1.6 billion on November 8, 2019. Great Chinasoft Technology Co.,Ltd. will pay cash of CNY 378.5 million and issue 209.3 million shares to acquire 70 million shares of Beijing Odyssey Chemicals Co., Ltd. Great Chinasoft Technology Co.,Ltd. signed second supplementary agreement to acquire 98.94% stake in Beijing Odyssey Chemicals Co., Ltd. from a group of shareholders for CNY 1.8 billion on August 19, 2020. Out of total consideration, CNY 374.2 million will be paid in cash and 207.1 million common shares of Great Chinasoft Technology will be issued. As per the amended terms of the transaction, Zhang Jinhua and Fang Min will withdraw from the transaction and will no longer participate as sellers. Great Chinasoft Technology Co.,Ltd. plans to raise supporting funds of not more than CNY 640 million by issuing shares. The proceeds will be used for the intermediary fees, the cash consideration of the acquisition, and to supplement working capital. As of December 31, 2018, Beijing Odyssey Chemicals Co., Ltd has total asset of CNY 460.7 million, net assets of CNY 332 million, revenue of CNY 346. 7 million and net profit of CNY 63.9 million. This transaction is subject to Great Chinasoft Technology Co., Ltd. Directorate’s approval after the audit and assessment work are completed, the sellers’ internal decision-making authorities’ approval of the official plan, Beijing Odyssey Chemicals Co., Ltd.’s shareholders meeting’s approval, Great Chinasoft Technology's shareholders approval, the CSRC’s approval and other necessary approvals. On November 8, 2019, Great Chinasoft Technology Co., Ltd. held the 4th Meeting of the 5th Directorate, and approved the transaction. On November 8, 2019, Badachu Holdings Group Co., Ltd. held a shareholders meeting and approved the transaction. On November 8, 2019, Beijing Hushang Zhiben Investment Co., Ltd. held a shareholders meeting and approved the transaction. On November 8, 2019, Beijing Shendexing Investment Management Consulting Co., Ltd. held a shareholders meeting and approved the transaction. On November 8, 2019, Beijing Jinkong Zheshang Capital Management Center (General Partnership) held a partners meeting and approved the transaction. On November 8, 2019, Beijing Odyssey Chemicals Co., Ltd. held a directorate meeting and approved the transaction. On April 23, 2020, Badachu Technology Group held its shareholders’ meeting and approved the transaction, Beijing Shendexing Investment Management Consulting Co., Ltd. held its shareholders’ meeting and approved the transaction, Beijing Hushang Zhiben Investment Co., Ltd. issued a shareholder decision and approved the transaction, Beijing Jinkong Zheshang Capital Management Center (General Partnership) held its partner’s meeting and approved the transaction and Great Chinasoft Technology issued a shareholder decision approving the raising of supporting funds transaction. On August 19, 2020, the 17th session of Great Chinasoft Technology’s 5th Directorate approved the adjustment in the reorganization plan. On August 19, 2019, Beijing Odyssey Chemicals held its Directorate and approved the adjustment in this transaction. On August 20, 2020, the China Securities Regulatory Commission Listed Companies Mergers and Acquisitions and Reorganization Review Committee held the 34th M&A and Reorganization Committee Working Meeting in 2020 and reviewed the Great Chinasoft Technology’s issuance of shares and payment of cash to purchase assets and raise matching funds and related transactions were conditionally approved. As per announcement of September 21, 2020, Great Chinasoft Technology Co.,Ltd. received approval from the China Securities Regulatory Commission for issuance of shares to the group of seller shareholders. Zhang Qi and Zhang Xingwang of Tianfeng Securities Co., Ltd. acted as financial advisors while Zheng Chao, Huang Yanyu of Grandway Law Offices acted as legal advisors to Great Chinasoft Technology Co.,Ltd. Feng Wanqi and Liu Hongzhi of BDO China SHU LUN PAN Certified Public Accountants LLP acted as accountant to Beijing Odyssey Chemicals Co., Ltd. Ran Shilong and Shen Yan of RSM China Certified Public Accountants Co., Ltd. acted as accountant to Great Chinasoft Technology Co.,Ltd.