Shaanxi Northwest New Technology Industry Company Limited (SEHK:8258) entered into an agreement to acquire Goldenway Securities Company Limited from Northwest Securities Investment Management Company Limited for HKD 26.5 million on January 4, 2017. Under the terms, Shaanxi Northwest New Technology Industry Company Limited will acquire 5.5 million shares, representing 100% stake in Goldenway Securities Company Limited and issue 100 million new H shares as the consideration. As of January 5, 2017, Goldenway Securities Company Limited is wholly owned by Northwest Securities Investment Management Company Limited and after completion of the transaction, will be wholly owned by Shaanxi Northwest New Technology Industry Company Limited. In a related transaction, Shaanxi Northwest New Technology Industry Company Limited (SEHK:8258) entered into an agreement to acquire 40% limited partner interest in Tianjin Northwest Global Mergers and Acquisition Investment Fund LLP from Wang Zhen for CNY 49.6 million on January 4, 2017. For the year ended March 31, 2016, Goldenway Securities Company Limited reported profit before tax and net profit after tax of HKD 1.43 million each. The transaction is subject to the approval of Shaanxi Northwest New Technology Industry Company Limited's shareholders, China Securities Regulatory Commission's approval, Securities and Futures Commission of Hong Kong's approval, listing of consideration shares on the stock exchange, all necessary government, regulatory and third party approvals, completion of due diligence and other customary conditions. The agreement will cease if the conditions are not fulfilled by December 31, 2017 and completion will take place on the 7th business day after the fulfillment or waiver of conditions.