Legal basis: Article 65 of the Securities Law of People's Republic of China (PRC). When an investor holds or shares with others 30% of the issued voting shares of a listed company through securities trading in a stock exchange, through agreements or other arrangements, he shall continue to make an offer to all shareholders of the listed company to purchase all or part of the shares.
An offer to purchase part of the shares of a listed company shall stipulate that if the number of shares promised by the shareholders of the acquired company exceeds the number of shares scheduled to be purchased, the purchaser shall make the acquisition in proportion.