legal ground
Article 62 of the Securities Law of People's Republic of China (PRC) * * * Investors may acquire listed companies by tender offer, agreement acquisition or other legal means. Article 65 If an investor holds or shares 30% of the issued voting shares of a listed company through agreement or other arrangements through securities trading in a stock exchange and continues to make acquisitions, he shall make an offer to all shareholders of the listed company in accordance with the law to acquire all or part of the shares of the listed company. 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.