Asia Television Holdings Limited (SEHK:707) entered into the memorandum of understanding to acquire 51% stake in Sichuan Telecast Technology Co., Ltd. from Yang Qin, Peng Hui, Chen Minghui and Guan Hongbin on June 19, 2019. Prior to the transaction, Yang Qin held 48.9% stake, Peng Hui held 12.9% stake, Chen Minghui held 12.9% stake and Guan Honbin held 11.1% stake in Sichuan Telecast Technology Co., Ltd. The acquisition is subject to the negotiation and execution of a formal sale and purchase agreement. The memorandum of understanding shall terminate upon the earlier of expiry of the 90 days from entering into memorandum of understanding or execution of the formal sale and purchase agreement relating to the acquisition. Asia Television Holdings Limited (SEHK:707) cancelled the acquisition of 51% stake in Sichuan Telecast Technology Co., Ltd. from Yang Qin, Peng Hui, Chen Minghui and Guan Hongbin on June 19, 2020.