China Mobile Investment Holding Co., Ltd. signed a share transfer agreement to acquire 10% stake in Jiangsu Phoenix Publishing & Media Corporation Limited from Jiangsu Phoenix Publishing & Media Group Limited for CNY 1.9 billion.

Jiangsu Phoenix Publishing & Media Corporation Limited is a China-based company, principally engaged in the publishing and distribution of books, video and audio products, as well as the distribution of cultural products. The Company engages in the distribution of books, video and audio products, as well as cultural products. It deals with middle and primarily school teaching materials, ordinary books, periodicals, video and audio products, among others. The Company is also engaged in logistics, software development and educational training businesses.