Shanghai Guoxin Venture Capital Co., Ltd. signed an equity transfer agreement to acquire a 4.8% stake in Jiemian (Shanghai) Network Technology Co., Ltd. from Huawen Media Group (SZSE:000793) for approximately CNY 210 million on September 29, 2020. The consideration shall be paid within five working days from the delivery date. For the year ending December 31, 2019, total asset, operating revenue and operating loss of Jiemian (Shanghai) Network Technology Co., Ltd. was approximately CNY 1.4 billion, approximately CNY 517 million and approximately CNY 52.5 million respectively. The transaction was approved at the thirteenth special meeting of the eighth session of the board of directors of Huawen Media Group held on September 29, 2020.