Shanghai XingXueKang Investment Partnership, a fund of Fujian XingXueXuanYuan Capital Management Co., Ltd signed a binding memorandum of understanding to acquire Svenska Rotor Maskiner AB and Opcon Energy System AB and 48.98% stake in Fujian Opcon Energy Technology Co. Ltd. and Compressor Technology and Waste Heat recovery business and Compressor and Opcon Powerbox intellectual property from Opcon AB (OM:OPCO) for SEK 400 million on May 15, 2015. Shanghai XingXueKang Investment Partnership, a fund of Fujian XingXueXuanYuan Capital Management Co., Ltd signed a share purchase agreement to acquire Svenska Rotor Maskiner AB and Opcon Energy System AB and 48.98% stake in Fujian Opcon Energy Technology Co. Ltd. and Compressor Technology and Waste Heat recovery business and Compressor and Opcon Powerbox intellectual property from Opcon AB (OM:OPCO) for SEK 400 million on June 30, 2015.The preliminary purchase price has been set to SEK 400 million on a cash-free, debt free basis and is subject to a customary due diligence. 15% of the purchase amount shall be paid in cash within 20 days of the agreement coming into effect through the approval given by an extra general meeting of Opcon shareholders to be held on July 24, 2015 and by the investment committee of Fujian XingXueXuanYuan Capital Management Co. Ltd. The remaining 85% of the purchase amount shall be paid in cash upon the closing of the deal when the buyer will gain ownership of the transferred shares. As of August 17, 2015, Opcon has received 15% of purchase price.

Svenska Rotor Maskiner and Opcon Energy Systems reported turnover of SEK 71 million and operating profit EBITDA of SEK 9 million in 2014. The memorandum of understanding is subject to due diligence as well as the negotiation and entry into definitive legal documentation, share purchase agreement and approval of shareholders of Opcon AB and approval of investment committee of Fujian XingXueXuanYuan Capital Management Co. Ltd. A final share purchase agreement is expected to be signed on June 30, 2015 with closing on September 30, 2015. As on June 10, 2015, the transaction was approved by the Board of Fujian Snowman Co., Ltd. As on June 26, 2015, the transaction was approved by the shareholders of Fujian Snowman Co., Ltd. As of July 24, 2015, the transaction was unanimously approved by shareholders of Opcon AB and investment committee of Fujian XingXueXuanYuan Capital Management Co., Ltd. The deal is expected to close on October 30, 2015. Awapatent AB, Hamilton Advokatbyrå acted as legal advisor and Erik Penser Bankaktiebolag acted as financial advisor for Opcon. Advokatfirman Vinge acted as legal advisor to Fujian XingXueXuanYuan Capital Management Co., Ltd.

Shanghai XingXueKang Investment Partnership, a fund of Fujian XingXueXuanYuan Capital Management Co., Ltd completed the acquisition of Svenska Rotor Maskiner AB and Opcon Energy System AB and 48.98% stake in Fujian Opcon Energy Technology Co. Ltd. and Compressor Technology and Waste Heat recovery business and Compressor and Opcon Powerbox intellectual property from Opcon AB (OM:OPCO) on October 30, 2015.