Tianjin Shuishan Technology Co., Ltd., Tianjin Dingsheng Zhida Technology Co., Ltd. and Shanghai Qiaoyong Equity Investment Fund Management Co., Ltd signed an agreement to acquire 79% stake in ChinaCache Xin Run Technology (Beijing) Co., Ltd. from ChinaCache International Holdings Ltd. (NasdaqGS:CCIH) for approximately CNY 220 million on March 6, 2017. Tianjin Shuishan Technology Co., Ltd., Tianjin Dingsheng Zhida Technology Co., Ltd. and Shanghai Qiaoyong Equity Investment Fund Management Co., Ltd will pay the consideration in cash. Tianjin Shuishan Technology Co., Ltd will acquire 47.67% stake for CNY 133.5 million, Shanghai Qiaoyong Equity Investment Fund Management Co., Ltd will acquire 26.33% stake for CNY 73.7 million and Tianjin Dingsheng Zhida Technology will acquire 5% stake for CNY 14 million. Shanghai Qiaoyong Equity Investment Fund Management Co., Ltd may designate a self-established fund as general partner, Tianjin Shuishan Technology Co., Ltd and Tianjin Dingsheng Zhida Technology Co., Ltd may respectively designate wholly-owned subsidiaries to complete the transaction. Post-closing, ChinaCache International Holdings Ltd, through a subsidiary, will own 20% equity interest of ChinaCache Xin Run Technology (Beijing) Co., Ltd. Tianjin Shuishan Technology Co., Ltd. will obtain a loan from Shanghai Qiaoyong Equity Investment Fund Management Co., Ltd or its affiliates to finance the transaction. As of September 30, 2016, ChinaCache Xin Run Technology (Beijing) Co., Ltd had shareholders’ equity value of approximately CNY 14.8 million. The transaction is subject to to customary closing conditions, including obtaining of requisite governmental registration. The Board of ChinaCache International Holdings Ltd approved the transaction. ChinaCache plans to apply proceeds from transaction to research and development, working capital and other purposes. Ross Warner and Brandi Piacente of The Piacente Group acted as the public relations advisor in the transaction. Tianjin Shuishan Technology Co., Ltd., Tianjin Dingsheng Zhida Technology Co., Ltd. and Shanghai Qiaoyong Equity Investment Fund Management Co., Ltd cancelled the acquisition of 79% stake in ChinaCache Xin Run Technology (Beijing) Co., Ltd. from ChinaCache International Holdings Ltd. (NasdaqGS:CCIH) on April 27, 2018.