Beijing HualuBaina Film&Tv Co., Ltd. (SZSE:300291) signed an agreement to acquire an additional 5.004% stake in Beijing Wonderful Time Culture Media Co., Ltd. from Shanghai Qianhong Enterprise Management Center for CNY 32.6 million on October 27, 2021. The payment shall be made in two installments, and 50% of the equity transfer price shall be paid within 10 working days after the signing of the agreement and within 10 working days after the industrial and commercial change registration of the target equity is completed. After the completion of the transaction, the company will nominate a majority of directors, supervisors and chief financial officer to Beijing Wonderful. After this transaction, the target company will be changed to the company's holding subsidiary and included in the consolidated statement. After completion of the transaction, Beijing Wonderful will become the company's 51% holding subsidiary. Beijing Wonderful reported total assets as approximately CNY 590 million and owner's equity as approximately CNY 380 million for the period end on June 30, 2021. The agreement will take effect from the date when all parties stamped and signed by the legal representative or authorized representative.