Xinjiang Western Animal Husbandry Co., Ltd (SZSE:300106) entered into framework agreement to acquire Shihezi Tianshan Guanghe Animal Husbandry Co., Ltd from Xinjiang Tianshan Army Reclamation Animal Husbandry Co., Ltd and Shihezi State-Owned Assets Management (Group) Co., Ltd on June 1, 2020. Xinjiang Western Animal Husbandry Co., Ltd signed an agreement to acquire Shihezi Tianshan Guanghe Animal Husbandry Co., Ltd from Xinjiang Tianshan Army Reclamation Animal Husbandry Co., Ltd and Shihezi State-Owned Assets Management (Group) Co., Ltd for approximately CNY 960 million on February 8, 2021. As of April 18, 2021, consideration has been revised to CNY 870 million through changes in numbers of consideration shares. Now, Xinjiang Western Animal Husbandry Co., Ltd will issue 77.89 million consideration shares. Payment for the transaction will be done through issuing shares of Xinjiang Western Animal Husbandry Co., Ltd. After negotiation by all parties to the transaction, the share issuance price for this issue of shares to purchase assets is CNY 10.68 per share which was initially CNY 5.96 per share. Shares issued will have a lock up period of 36 months since issuance date. In Related transaction, Xinjiang Western Animal Husbandry entered into a private placement agreement with group of shareholders for approximately CNY 500 million. For the year ended December 31, 2019, Shihezi Tianshan Guanghe Animal Husbandry Co., Ltd. reported total assets of CNY 1.1 billion, total common assets of CNY 455.1 million, total revenue of CNY 415.7 million, operating profit of CNY 49.1 million and net income of CNY 47.1 million. The 13th meeting of the third session of Xinjiang Western Animal Husbandry Co., Ltd has been held, and the relevant proposal have been reviewed and approved. On June 1, 2020, the 13th meeting of the third session of the Company has been held, and the relevant proposals such as the "Proposal on the Issue of Shares to Purchase Assets and Raise Supporting Funds Transactions" and other relevant proposals have been reviewed and approved Issued an independent opinion Transaction is still subject to approval of State-owned Assets Supervision and Administration Commission of Xinjiang Production and Construction Corps, Xinjiang Western Animal Husbandry shareholder meeting, Shenzhen Stock Exchange and Registration with China Securities Regulatory Commission. On February 8, 2021, the counterparties of the MA directorate and the shareholder meeting of the target company approved the transaction and The State-owned Assets Supervision and Administration Commission of the Eighth Division of Xinjiang Production and Construction Corps has filed the evaluation report of the transaction target. As of April 2, 2021, the audit, evaluation and other tasks involved in this transaction have been completed. The company's issuance of shares to purchase assets and raise supporting funds has been approved by the State-owned Assets Supervision and Administration Commission of Xinjiang Production and Construction Corps. The transaction has been reviewed by the Shenzhen Stock Exchange and approved by the China Securities Regulatory Commission for registration. Chen Muyuan, Li Weimin ,Quan Hongtao and Jia Rui of China Dragon Securities Co., Ltd. acted as financial advisor and Zhang Liguo, Zhu Ming and Fu Lixin of Beijing Grandway Law Firm acted as legal advisor, Lu Hua, Tang Zhirong and Liu Congcong of Xigema Certified Public Accountants Co., Ltd. acted as accountant to Xinjiang Western Animal Husbandry in transaction. Wang Qian, Yang Yang and Lin Mei of Beijing Zhuoxin Dahua Assets Appraisal Co., Ltd acted as appriaser in the transaction.