Lingyi Technology (Shenzhen) Co., Ltd. agreed to acquire JPMF Guangdong Co., Ltd. (SZSE:002600) in a reverse merger transaction on July 25, 2017. Under the terms of the transaction, 4.43 billion new shares at CNY 4.68 per shares of JPMF Guangdong Co., Ltd. will be issued. As a result of this acquisition, Lingsheng Investment (Shenzhen) Co., Ltd. will become controlling shareholder of JPMF Guangdong Co., Ltd., Zeng Fangqin, legal representative of Lingyi Technology (Shenzhen) Co., Ltd., will become its actual controller and Lingyi Technology (Shenzhen) Co., Ltd. will go public. The transaction is subject to approval from China Securities Regulatory Commission, subject to another approval from Board and shareholders' of JPMF Guangdong Co., Ltd. On July 25, 2017, Board of JPMF Guangdong Co., Ltd. approved the transaction. As of August 10, 2017, the 6th extraordinary shareholder's meeting of JPMF Guangdong Co., Ltd. approved the transaction. As on November 6, 2017, the Ministry of Commerce of the People's Republic of China Anti-monopoly Bureau issued approval regarding no implementation of further review and can undertake concentration for the asset acquisition. On December 6, 2017, the transaction is approved by the China Securities Regulatory Commission and on January 17, 2018 received approval from the Chinese Securities Regulatory Commission to issue shares. Cheng Jiujun, Li Qinjun, Yu Songsong of Guosen Securities Co., Ltd. (SZSE:002736) acted as financial advisors and Pan Yujia and Wang Jianxue of King & Wood PRC Lawyers acted as legal advisors, Qu Xianfu, Fu Liang, Duan Shan, Chen Zhigang and Zhang Lei of Baker Tilly China Certified Public Accountants acted as auditors to JPMF Guangdong Co., Ltd. Wang Xin, Zou Shulian of Shanghai Orient Certified Appraisal Co.,Ltd. and Deng Chunhui of Vocation (Beijing) International Assets Appraisal Co., Ltd acted as asset evaluation agencies. Chen Zhigang and Zhang Lei of Baker Tilly China Certified Public Accountants acted as auditors to Lingyi Technology (Shenzhen) Co., Ltd. Lingyi Technology (Shenzhen) Co., Ltd. completed the acquisition of JPMF Guangdong Co., Ltd. (SZSE:002600) in a reverse merger transaction on January 19, 2018.