Shanghai Yirang Culture Communication Co., Ltd. and Shenzhen Baipai Investment Development Co., Ltd. agreed to acquire a 40% stake in Shenzhen Huakong Seg Property Co., Ltd. from Shenzhen Huakong Seg Co., Ltd. for approximately CNY 200 million.

SHENZHEN HUAKONG SEG CO., LTD. is a China-based company principally engaged in energy saving and environmental protection business and new material industry. The Company’s main products consist of environmental protection equipment and related materials, electronic components, televisions, communications products, audio devices, inverters, liquid crystal display screens, as well as supporting power boards, motherboards and related components of televisions. The Company is also engaged in the provision of technical consulting and planning services and warehouse services. The Company operates its business mainly in domestic market.