Wang Shuhong and Tao Kaide signed an agreement to acquire 10% stake in Zhong Fu Tong Group Co., Ltd. from Chen Rongjie for approximately CNY 240 million.

Zhong Fu Tong Group Co., Ltd. formerly Zhong Fu Tong Co., Ltd is a China-based company principally engaged in the provision of communication network maintenance and optimization services. Its communication network maintenance services segment mainly provides routine maintenance and modifications and maintenances to telecommunications operators, radio and television operators and others. Its network optimization services include daily network optimization and special network optimization. Its clients mainly include China Mobile, China Telecommunications, China Unicom, ZTE, HUAWEI, as well as Shanghai Bell Company, among others.