Nanjing Inform Storage Equipment (Group) Co., Ltd. (SHSE:603066) agreed to acquire Nanjing Huade Storage Equipment Manufacture Co., Ltd. from Chinatek Development Limited for approximately CNY 460 million on May 3, 2018. As on May 4, 2018, the agreement was signed for the deal. Under the terms of the deal, 50% of the transaction price will be paid in cash, the remaining 50% will be paid through share issuance in the form of 20.5 million shares of Nanjing Inform Storage Equipment (Group) Co., Ltd.. The issue price of the share issued by Nanjing Inform Storage Equipment (Group) Co., Ltd. is CNY 11.12 per share. As on August 10, 2018, due to implementation of the 2017 profit distribution plan the shares and price per share has been adjusted from 20.5 million to 20.6 million at CNY 11.12 to CNY 11.07 per share. Nanjing Inform Storage Equipment (Group) Co., Ltd. will issue A shares to not more than 10 specific investors to raise supporting funds of not more than CNY 228 million. The supporting funds will be used to pay for the transaction’s cash consideration. For the year ending December 31, 2017, Nanjing Huade Storage Equipment Manufacture Co., Ltd. reported total assets of CNY 306.1 million, owner’s equity of CNY 151.4 million, revenues of CNY 357.5 million and net profit of CNY 34.6 million. The transaction needs approval by the Directorate and shareholders of Nanjing Inform Storage Equipment (Group) Co., Ltd. and approval by CSRC. As on May 3, 2018, Nanjing Huade Storage Equipment Manufacture Co., Ltd.'s Directorate and shareholders made a resolution and approved the deal. As on May 4, 2018, the 31st session of Nanjing Inform Storage Equipment (Group) Co., Ltd's 2nd Directorate approved this preliminary plan for the deal. On August 27, 2018, the shareholders of Nanjing Inform Storage Equipment (Group) Co., Ltd. approved the transaction. On January 9, 2019, Nanjing Inform Storage Equipment (Group) Co., Ltd. held the 2nd meeting of the 3rd Directorate and approved the proposal about the termination of the acquisition. The termination will be effective once the shareholders of Nanjing Inform Storage Equipment (Group) Co., Ltd. approve the termination in a meeting scheduled on January 25, 2019. Huatai United Securities Co., Ltd. acted as financial advisor to Nanjing Inform Storage Equipment (Group) Co., Ltd. Nanjing Inform Storage Equipment (Group) Co., Ltd. (SHSE:603066) cancelled the acquisition of Nanjing Huade Storage Equipment Manufacture Co., Ltd. from Chinatek Development Limited on January 25, 2019. The termination was approved by the 1st special Shareholders' Meeting of 2019 of Nanjing Inform Storage Equipment (Group) Co., Ltd. on the same day.