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On 30 June 2016, China Electronics Corporation Holdings Company Limited (hereinafter referred to as "CEC Holdings" or "Seller") announced on The Stock Exchange of Hong Kong that it has completed (1) the major transaction about the sale of 100% equities of CETC and (2) very substantial acquisition about the subscription of OVU equity. In the transaction, the consideration amounted to RMB 699,854,600. The purchaser (OVU) shall pay HKD 0.8 per share according to the consideration through allotment and issuance of consideration shares.

Guantao Law Firm (henceforth "Guantao") acted as PRC lawyer of CEC Holdings, along with Li & Partners as overseas lawyer of the seller, Jingtian & Gongcheng as domestic lawyer of the purchaser, Reed Smith Richards Butler as overseas lawyer of the purchaser, Messis Capital Limited as financial adviser of the seller, LY Capital Limited as financial adviser of the purchaser, Everbright Securities as placing agent. In this project, Guantao was mainly responsible for the restructuring of the domestic target company and the negotiation with lawyers of the purchaser on domestic issues arisen from the transaction documents. Partner Hong Yuhao and team member Yao Bohua provided full PRC legal services for this project.