Guangdong Macro Co., Ltd. (SZSE:000533) signed a framework agreement to acquire 60% stake in Zhejiang Hancheng Xiechuang Co., Ltd from Chen Huan and Lin Guoping for approximately CNY 450 million on January 11, 2017. Guangdong Macro Co., Ltd. signed a share acquisition and capital increase agreement to acquire 50% stake in Zhejiang Hancheng Xiechuang Co., Ltd. from Chen Huan and Lin Guoping for approximately CNY 300 million and to subscribe to 10% of the new registered capital of Zhejiang Hancheng Xiechuang Co., Ltd for CNY 151 million on January 23, 2017. Upon completion Guangdong Macro Co., Ltd. will hold 60% stake in Zhejiang Hancheng Xiechuang Co., Ltd Zhejiang Hancheng Xiechuang Co., Ltd reported total assets of CNY 269.14 million and net assets of CNY 95.35 million as at November 30, 2016. The transaction is subject to the approval of Guangdong Macro Co., Ltd’s directorate and does not need the shareholders’ approval. The transaction has been approved by the Board of Guangdong Macro Co., Ltd. as on January 23, 2017.