Hualu Capital Holdings Limited signed an agreement to acquire 10% stake in Hualu North Cultural Technology Co., Ltd. from Beijing HualuBaina Film&Tv Co., Ltd. (SZSE:300291) for CNY 60.2 million on April 8, 2020. Payment will be done in 2 installments of 50% of the transactional price each. The 1st installment is payable within 5 days since signing of the respective agreement and the 2nd installment is payable within 5 days since completion of change of registry procedures. As of October 31, 2019, Hualu North Cultural Technology Co., Ltd. has reported total assets of CNY 930.4 million and net assets of CNY 27.8 million. The Board of Directors of Beijing HualuBaina Film&Tv Co., Ltd. has approved the transaction. Hualu Capital Holdings Limited cancelled the acquisition of 10% stake in Hualu North Cultural Technology Co., Ltd. from Beijing HualuBaina Film&Tv Co., Ltd. (SZSE:300291) on April 8, 2021.