Jilin Jinguan Electric Co., Ltd. (SZSE:300510) agreed to acquire Liaoyuan Hongtu Lithium-Ion Battery Separator Technology Co., Ltd. from a group of sellers for CNY 1.5 billion on June 15, 2017. Under the terms, some sellers will receive both cash and stock, some sellers will receive only cash and some sellers will receive only stock as consideration. Jilin Jinguan Electric will issue 35.98 million shares at an issue price of CNY 29.51 per share and pay approximately CNY 410 million. Jilin Jinguan Electric will issue shares to not more than 5 specific investors for raising gross proceeds of not more than approximately CNY 720 million to fund the cash portion of consideration for the transaction. The deal is subject to approval by CSRC and shareholders of Jilin Jinguan Electric and Liaoyuan Hongtu Lithium-Ion Battery Separator Technology. After the audit report and assessment report of Liaoyuan Hongtu Lithium-Ion Battery Separator Technology being issued, the final transaction plan needs to be reapproved by the Board of Directors of Jilin Jinguan Electric. The deal was approved by the Board of Directors of Jilin Jinguan Electric on June 15, 2017. The deal was approved by the institutional shareholders of Liaoyuan Hongtu Lithium-Ion Battery Separator Technology in June 2017. On July 4, 2017, the shareholders of Liaoyuan Hongtu Lithium-Ion Battery Separator Technology Co., Ltd. approved the deal in extraordinary meeting. On August 21, 2017, the Board of Directors of Jilin Jinguan Electric Co., Ltd. approved the deal. Shareholders of Jilin Jinguan Electric Co., Ltd approved the transaction on September 6, 2017. On December 29, 2017, Merger, Acquisition and Reorganization Examination Committee of Listed Companies of the CSRC approved the deal conditionally. On January 31, 2018, the transaction received regulatory approval. Li Qiuyu and Ma Teng at Huatai United Securities Co., Ltd. and Xin Jianwei and Yu Yue at Guotai Junan Securities Co.,Ltd. (SHSE:601211) acted as financial advisors, Gao Yimin and Song Yanyan at King & Wood Mallesons acted as legal advisor and Pan-China Certified Public Accountants acted as accountant for Jilin Jinguan Electric Co., Ltd. Mo Jianmin and Wang Rongjun at Moore Stephens Da Hua Certified Public Accountants acted as accountant for Liaoyuan Hongtu Lithium-Ion Battery Separator Technology Co., Ltd. Jilin Jinguan Electric Co., Ltd. (SZSE:300510) completed acquisition of Liaoyuan Hongtu Lithium-Ion Battery Separator Technology Co., Ltd. on February 6, 2018.