Shangying Global Co., Ltd. (SHSE:600146) signed a investment intention agreement to acquire Shanghai Rili Technology Development Co., Ltd. from Shanghai Huiyingle Trading Limited Company, Tibet Shengzhou E-Commerce Co., Ltd., Hunan Xiangyu Economic and Trade Co., Ltd., Shanghai Yuanben Trading Co., Ltd., Shanghai Fubo Investment Management Co., Ltd. and Beijing Dexin Hefeng Trading Co., Ltd. for approximately CNY 440 million on June 28, 2019. Under the term, Shanghai Huiyingle Trading Limited Company, Tibet Shengzhou E-Commerce Co., Ltd., Hunan Xiangyu Economic and Trade Co., Ltd., Shanghai Yuanben Trading Co., Ltd., Shanghai Fubo Investment Management Co., Ltd. and Beijing Dexin Hefeng Trading Co., Ltd. will transfer 1.6%, 79.4%, 9.8%, 4%, 3.4% and 1.8% stake in Shanghai Rili Technology Development to Shangying Global respectively. As of December 31, 2018, Shanghai Rili Technology Development reported total assets of CNY 1.04 billion, total common equity of CNY 304.89 million, revenue of CNY 2.16 billion and net income of CNY 81.03 million. The transaction was approved by the board of directors of Shangying Global on the 40th temporary meeting of the seventh directorate held on July 1, 2019. Shangying Global Co., Ltd. (SHSE:600146) cancelled the acquisition of Shanghai Rili Technology Development Co., Ltd. from Shanghai Huiyingle Trading Limited Company, Tibet Shengzhou E-Commerce Co., Ltd., Hunan Xiangyu Economic and Trade Co., Ltd., Shanghai Yuanben Trading Co., Ltd., Shanghai Fubo Investment Management Co., Ltd. and Beijing Dexin Hefeng Trading Co., Ltd. on June 28, 2020.