Glarun Technology Co., Ltd. (SHSE:600562) signed an agreement to acquire Nanjing Guorui Defense System Co., Ltd. from China Electronics Technology Group Corporation No. 14 Research Institute for CNY 6.9 billion on November 3, 2018. Under the transaction, 526 million shares will be issued as consideration by Glarun Technology. As of April 30, 2019, the terms of the deal were revised and Glarun Technology Co., Ltd. signed an agreement to acquire Nanjing Guorui Defense System Co., Ltd. from China Electronics Technology Group Corporation No. 14 Research Institute for CNY 8.5 billion. Under revised terms of transaction, 536.4 million shares will be issued as consideration by Glarun Technology. As of September 17, 2019, Glarun Technology will issue 537.3 million shares in consideration. In related transactions, Glarun Technology Co., Ltd. signed an agreement to acquire 95% stake in Nanjing Glaway Software Co., Ltd. from Glarun Group Co., Ltd., Shanghai Xunqian Investment Management Partnership Enterprise (Limited Partnership), Beijing Huaxia Zhixun Technology Co., Ltd., Zhang Shaohua, Hu Huobo by way of share issuance and cash payment and 59% stake in Nanjing Glarun-Atten Technology Co., Ltd. from Glarun Group Co., Ltd., Nanjing Ruihongyi Equity Investment Enterprise (Limited Partnership) by way of share issuance and cash payment. Also, in another related transaction, Glarun Technology will issue shares to not more than 10 specific investors to raise supporting funds of not more than CNY 600 million. This transaction still needs to be approved by Glarun Technology’s shareholders’ meeting; CSRC and after the completion of the audit and appraisal works, Glarun Technology would need to hold another directorate to approve this reorganization, approval from the State Administration of Science, Technology and Industry for National Defense regarding the transaction’s military matters review and formal approval from the state-owned assets supervision and administration commission. This transaction is approved by China Electronics Technology Group Corporation’s internal decision-making body and 2nd session of Glarun Technology’s 8th directorate. The transaction received approval by the Ministry of Finance. As per update on August 22, 2019, National Defense Science and Technology Bureau agreed to the transaction. As of September 27, 2019, shareholders of Glarun Technology Co., Ltd. has approved the transaction. As on December 25, 2019, Glarun Technology received conditional approval from the Merger, Acquisition, and Reorganization Examination Committee of Listed Companies of the China Securities Regulatory Commission in its 71st work meeting of 2019. As per announcement dated January 22, 2020, Glarun Technology Co., Ltd. received "approval of Glarun Technology Co., Ltd.’s acquisition of assets through the Issuance of shares and raising of supporting funds” (2020 License No. 117) issued by the China Securities Regulatory Commission. Wang Chenning, Liu Xianfeng, Luo Wenchao, Wu Xiaofeng, Yuan Dejiang, Zhang Hengzheng, Wan Qian, Ye Dan, Zhang Tongyuan and Han Xing of China Securities Co., Ltd. acted as financial advisor to Glarun Technology. Fang Xiaojie, Sun Zuan, Dong Junnan, Wang Chao and Hu Han of AllBright Law Offices acted as legal advisor to Glarun Technology Co., Ltd. Yang Zhi and Gai Dajiang of Grant Thornton China acted as accountant to Glarun Technology Co., Ltd. Glarun Technology Co., Ltd. (SHSE:600562) completed the acquisition of Nanjing Guorui Defense System Co., Ltd. from China Electronics Technology Group Corporation No. 14 Research Institute on May 22, 2020. As on May 15, 2020, Glarun Technology will issue 538.2 million shares in consideration. The total consideration will be CNY 8.2 billion.