Yawei Precise Laser Korea Company agreed to acquire 21.96% stake in LIS Co., Ltd. (KOSDAQ:A138690) from Sooin Cosmetics Co., Ltd. and B&B Investment Co., Ltd. for approximately CNY 390 million on July 22, 2019. On July 23, 2019, an agreement was signed. Yawei Precise Laser Korea Company will acquire 2.39 million shares from Sooin Cosmetics Co., Ltd. and 1.1 million shares from B&B Investment Co., Ltd. Prior to the transaction, Sooin Cosmetics Co., Ltd. held 3.9 million shares amounting to 24.33% stake and B&B Investment Co., Ltd. held 1.1 million shares amounting to 6.96% stake in LIS Co., Ltd. After the transaction, Sooin Cosmetics Co., Ltd will hold 1.5 million shares amounting to 9.33% stake and B&B Investment Co., Ltd. will hold no stake in LIS Co., Ltd. The transaction is subject to approval from shareholders of Jiangsu Yawei Machine Tool Co., Ltd. (SZSE:002559), ultimate parent of Yawei Precise Laser Korea Company. The Board of Directors of Jiangsu Yawei Machine Tool Co., Ltd. approved the transaction on July 22, 2019.