Media reports in Europe claimed representatives of last season's Chinese second division champions met with Aubameyang's representatives and that the club was prepared to make the Gabon international one of the highest paid players in world football when the Chinese Super League transfer window opens next month.
Shu refused to be drawn on the identity of his club's latest target after signing Axel Witsel and Alexandre Pato in the winter transfer window for Fabio Cannavaro's newly promoted side.
"A decision on which player we are going to buy in the summer has been made and we have secured a verbal agreement with the player as well as his club," Shu Yuhui told Chinese media.
"We have not signed a formal contract yet. We had the experience of losing a player due to the leaking of information before, so this time I won't tell you a name."
Tianjin have also been heavily linked with a multi-million dollar deal to sign Diego Costa from English Premier League champions Chelsea.
"We still have some minor issues to take care of," said Shu, whose club are currently in 10th in the standings and have not won in any of their last five Chinese Super League matches. "But I'm determined to get this deal done."
(Editing by Amlan Chakraborty)
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