Kunming Sinobright (Group) Co., Ltd. (SZSE:000560) agreed to acquire remaining 9.8% stake in Kunming Sinobright Department Store Business Co., Ltd. from management team including Duan Mang for CNY 3.1 million on May 5, 2015. After this, Kunming Sinobright Department Store Business will become a wholly-owned subsidiary of Kunming Sinobright (Group). As of December 31, 2014, Kunming Sinobright Department Store Business had total assets amounted to CNY 388.05 million, total liabilities to CNY 325.99 million, net assets to CNY 62.06 million, revenues to CNY 458.23 million and net profit to CNY 7.92 million. On May 5, 2015, the transaction was approved by Board of Directors of Kunming Sinobright (Group). Kunming Sinobright (Group) Co., Ltd. (SZSE:000560) cancelled the acquisition of remaining 9.8% stake in Kunming Sinobright Department Store Business Co., Ltd. from management team including Duan Mang on May 5, 2016.