Wuxi Taiji Industry Company Ltd. (SHSE:600667) signed a framework agreement to acquire EEMS Suzhou Technology Ltd and EEMS Suzhou Co. Ltd. from EEMS China Pte Ltd. for approximately CNY 260 million ($42.1 million) on October 28, 2012. The value of the transaction and the means by which it will be carried out is subject to adjustment and change. As of June 30, 2012, EEMS Suzhou Co's total assets is CNY 553.95 million, net asset is CNY 234.02 million. Its revenue from January to June 2012 is CNY 235.42 and net loss is CNY 52.38 million. As of June 30, 2012, EEMS Suzhou Technology's total assets is CNY 279 million, net asset is CNY 143.6 million. Its revenue from January to June 2012 is CNY 14.89 million and net loss is CNY 33.67 million. On December 1, 2012, Wuxi Taiji Industry Company Ltd. signed the formal agreement with EEMS Semiconductor and EEMS Microelectronics. The first payment of the consideration will be made before January 10, 2013 and the remaining balance payment will be made before February 10, 2013.

The transaction is subject to the approval of the Boards of Directors of EEMS Italia and Taiji as well as the approval of the syndicate of lending banks. The transaction is approved by Board of Directors of Wuxi Taiji Industry as on December 3, 2012. As on December 6, 2012, Wuxi Taiji Industry Company decided to hold the 4th special shareholders' meeting to discuss and approve the transaction on December 28, 2012. The deal is expected to be completed on December 31, 2012. The transaction was approved by shareholders and lending banks of Wuxi Taiji on December 28, 2012. Claudio d' Agostino, Michael Huang of DLA Piper Singapore Pte. Ltd. acted as legal advisor and Volker Werner of GVG Corporate Finance Advisors acted as financial advisor for EEMS Italia SpA, parent of EEMS Asia Pte. Ltd. The conversion was done through www.oanda.com as on June 30, 2012 for financials and October 30, 2012 for deal value.

Wuxi Taiji Industry Company Ltd. (SHSE:600667) completed the acquisition of EEMS Suzhou Technology Ltd and EEMS Suzhou Co. Ltd. from EEMS China Pte Ltd. on January 4, 2013. The consideration will be paid in February 2013 and March 2013.