Zhonghang Electronic Measuring Instruments Co.,Ltd (SZSE:300114) agreed to acquire Chengdu Aircraft Industrial (Group) Co. Ltd. from Aviation Industry Corporation of China,Ltd. for CNY 94.3 billion on February 1, 2023. The consideration will be paid in form of 2,086,410,119 new shares of Zhonghang Electronic Measuring Instruments Co. Chengdu Aircraft Industrial (Group) reported total assets of CNY 8,288,562,300, owner's equity of CNY 3,784.8635 million, operating revenue of CNY 7.8085 million, operating profit of CNY 74.6303 million and net profit of CNY -74.6177 million as at January 1, 2023. As of October 11, 2023, Zhonghang Electronic Measuring Instruments increased the consideration terms as the issue price for the acquisition is CNY8.36 per share and the number of shares to be issued to Chengdu Aircraft Industrial (Group) Co., Ltd. as payment is 2,086,021,877 shares. Transaction is approved by Zhonghang Electronic's board. Transaction is subject to approval from Zhonghang Electronic's shareholders, 4. The assessment reports obtaining the filing of the authorized state-owned assets supervision and administration commission (SASAC), State Administration of Science, Technology and Industry for National Defense, Shenzhen Stock Exchange?s Approval, CSRC?s Approval and other necessary approval. As of July 26, 2023, the transaction has been approved by board of directors of Zhonghang Electronic Measuring Instruments. As on December 14, 2023, Zhonghang Electronic Measuring Instruments shareholders approved the deal.

CITIC Securities Company Limited (SHSE:600030) acted as independent financial advisor and AVIC Securities Co.,Ltd. acted as financial advisor, Jiayuan Law acted as legal advisor and Moore Stephens Da Hua acted as accountant to Zhonghang Electronic Measuring Instruments Co.,Ltd.