Beijing Shiji HK Has Controlling Interest of $EFUT
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
From November 16 to 23, 2015, Shiji HK has acquired 2,453,966 Ordinary Shares in secondary market for an aggregate purchase price of $16,750,509.61, including brokerage commissions and fees (the “Purchase Price”), or approximately $6.83 per Ordinary Share on average. As a result, as the date hereof, Shiji HK owned 2,453,966 Ordinary Shares, representing 50.51% of the total outstanding Ordinary Shares. The Purchase Price was funded by working capital of Shiji HK, which in turn was obtained from the working capital of Beijing Shiji.
ITEM 4. PURPOSE OF TRANSACTION
The Reporting Persons consummated the transactions described in Item 3 in order to acquire an interest in the Issuer for investment purposes. The Reporting Persons intend to review continuously their position in the Issuer. Depending upon future evaluations of the business prospects of the Issuer and upon other developments, including, but not limited to, general economic and business conditions and stock market conditions, the Reporting Persons may retain or from time to time increase their holdings or dispose of all or a portion of their holdings, subject to any applicable legal and contractual restrictions on their ability to do so.
Except as set forth in this Item 4 (including the matters described in Item 6 below which are incorporated in this Item 4 by reference), the Reporting Persons (or, to the best knowledge of the Reporting Persons, each person named in Schedule A) have no present plans or proposals that relate to or that result in any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
| (a)–(b) | The following information with respect to the ownership of Ordinary Shares by each of the Reporting Persons as the date hereof: |
| | | Amount beneficially owned: | | | | Sole power to vote or direct the vote: | | Shared power to vote or to direct the vote: | | Sole power to dispose or to direct the disposition of: | | Shared power to dispose or to direct the disposition of: |
| Shiji HK | | 2,453,966 | | 50.51% | | 2,453,966 | | 0 | | 2,453,966 | | 0 |
| Beijing Shiji | | 2,453,966 | | 50.51% | | 0 | | 2,453,966 | | 0 | | 2,453,966 |
| Mr. Zhongchu Li | | 2,453,966 | | 50.51% | | 0 | | 2,453,966 | | 0 | | 2,453,966 |
As of the date hereof, Shiji HK directly owns 2,453,966 Ordinary Shares, representing 50.51% of the total outstanding Ordinary Shares.
Beijing Shiji, as the sole owner of Shiji HK, may be deemed to beneficially own 2,453,966 Ordinary Shares, representing 50.51% of the total outstanding Ordinary Shares, and share voting and investment power over such shares.
Mr. Zhongchu Li, directly owns 63.0% of the total issued and outstanding shares of Beijing Shiji, is the ultimate controller of Beijing Shiji. As a result, Mr. Zhongchu Li may be deemed to beneficially own 2,453,966 Ordinary Shares, representing 50.51% of the total outstanding Ordinary Shares, and share voting and investment power over such shares. Mr. Zhongchu Li and his affiliated entities and the officers, partners, members, and managers thereof, other than Shiji HK and Beijing Shiji, disclaims beneficial ownership of the shares held directly by Shiji HK.
SCHEDULE B
Transactions in the Ordinary Shares during Past 60 Days
The following transactions were effected by Shiji (Hong Kong) Limited in the Ordinary Shares in the past 60 days:
| Date | Numbers of Ordinary Shares Purchased | Price per Ordinary Share |
| November 16, 2015 | 1,443,628 | $6.37 |
| November 17, 2015 | 127,518 | $6.32 |
| November 18, 2015 | 465,775 | $6.93 |
| November 20, 2015 | 4,750 | $6.48 |
| November 23, 2015 | 412,295 | $8.45 |