Hubei Hongtai State-Owned Capital Invesment Operation Group Co., Ltd. ("Hubei Hongtai") agreed to acquire 20.21% stake in Shenzhen Mason Technologies Co., Ltd. (SZSE:002654) from Li Zhijiang, Luo Xiaoyan, Li Chi, Luo Ming, Huang Haixia and Luo Ping for approximately CNY 950 million on November 14, 2018. Parties signed an agreement on November 15, 2018. The shares will be acquired at CNY 5.21 per share. As of April 22, 2019, the offer per share has been adjusted to CNY 5.15 per share and the acquisition will be completed in two tranches. Under the transaction, Hubei Hongtai State-Owned Capital Invesment Operation Group Co., Ltd. acquires 34.6 million shares from Li Zhijiang, 87.5 million shares from Luo Xiaoyan, 32.5 million shares from Li Chi, 12.2 million shares from Luo Ming, 5.8 million shares from Huang Haixia and 9.9 million shares from Luo Ping. Post transfer, Hubei Hongtai shall become Shenzhen Mason Technologies holding stockholder. The transaction is subject to approval of the State-Owned Assets Supervision and Administration Commission of Hubei and approval of the business concentration of anti-monopoly declaration by the Ministry of Commerce of the People’s Republic of China. As on November 14, 2018, transaction has been approved by the Board of Hubei Hongtai State-Owned Capital. As on April 22, 2019, the transaction for 95.96 million shares of Shenzhen Mason Technologies has been completed. Hubei Hongtai State-Owned Capital Invesment Operation Group Co., Ltd. completed the acquisition of 20.21% stake in Shenzhen Mason Technologies Co., Ltd. (SZSE:002654) from Li Zhijiang, Luo Xiaoyan, Li Chi, Luo Ming, Huang Haixia and Luo Ping on April 24, 2019. As on April 24, 2019, transaction for remaining 86.49 million shares of Shenzhen Mason Technologies has been completed. Further, the acquired shares will not be transferred within 12 months after the completion of the transfer, but the transfer between different entities controlled by the same actual controller is not subject to the aforementioned 12 month limit. Post transaction, Li Chi, Luo Xiaoyan, Luo Ping and Huang Haixia will cease to hold any securities of Shenzhen Mason Technologies whereas Luo Ming and Hubei Hongtai will hold 36.55 million and 182.45 million shares respectively and Li Zhijiang and his concerted actions, Luo Ming, Li Zhijun and Hu Jianguo will hold a total of 141.15 million shares, accounting for 15.64% of Shenzhen Mason Technologies.