Urovo Technology Co., Ltd. (SZSE:300531) agreed to acquire Zhuhai Gainscha Technology Group Company from Beijing Jianhuan Chuangxiang Equity Investment Management Center, Yinchuan Jundu Shangzuo Equity Management Partnership Enterprise (L.P.), Tibet Jundu Investment Co., Ltd., Zhuhai Shenen Investment Partnership and others for approximately CNY 940 million on December 13, 2018. The consideration consist of 32.6 million shares of Urovo Technology Co., Ltd. and 330 million cash. As of May 2019, Urovo Technology Co., Ltd agreed to acquire Zhuhai Gainscha Technology Group Company from a group of sellers for approximately CNY 820 million. Urovo Technology Co., Ltd will pay CNY 326 million in cash and issue 32.67 million shares for payment of CNY 489 million. Urovo Technology Co., Ltd will carry out a placement of CNY 350 million and the proceeds will be used to fund the transaction. Upon completion of the transaction, Zhuhai Gainscha Technology Group Company will become wholly owned subsidiary of Urovo Technology Co., Ltd. The transaction is subject to approval of the shareholders of Urovo Technology Co., Ltd and approval of China Securities Regulatory Commission. The Board of Directors of Urovo Technology Co., Ltd approved the transaction on December 13, 2018. The transaction is approved by Board of directors of Yinchuan Jundu Shangzuo Equity Management Partnership Enterprise (L.P.), Zhuhai Shenen Investment Partnership and Beijing Jianhuan Chuangxiang Equity Investment Management Center. On May 31, 2019, The Board of Directors of Urovo Technology Co., Ltd approved the revised draft. Gainscha Technology Group Company’s shareholders meeting passed the internal decision-making process for the transaction. On September 26, 2019, the transaction is approved by China Securities Regulatory Commission and approval documents will be received soon by Urovo Technology Co., Ltd. Wei Qinghua, Chen Xikai, Wei Sai, Kong Lingkun, Lu Libin and Yao Wei of Dongxing Securities Co., Ltd. (SHSE:601198) acted as the financial advisors, Zhang Xuebing, Guo Xiaodan and Zhou Jianghao of Zhong Lun Law Firm acted as the legal advisors, Liang Chun, Chen Baohua and Zhou Lingzhi of Moore Stephens Da Hua acted as the accountants and Xie Xiaolin, Yu Jinggang and Li Jun of Jiangsu Zhongqi Huazhongtian Assets Evaluation Co., Ltd acted as the appraisers in the transaction. Urovo Technology Co., Ltd. (SZSE:300531) completed the acquisition of Zhuhai Gainscha Technology Group Company from Beijing Jianhuan Chuangxiang Equity Investment Management Center, Yinchuan Jundu Shangzuo Equity Management Partnership Enterprise (L.P.), Tibet Jundu Investment Co., Ltd., Zhuhai Shenen Investment Partnership and others on December 3, 2019.