Zhou Qing entered into an agreement to acquire 13.5% stake in Shanghai Chuanda Communication Technology Co., Ltd. from Beijing Digital Telecom Co., Ltd. (SEHK:6188) for CNY 10.8 million on July 15, 2019. Zhou Qing shall pay 12.5% of consideration by way of bank transfer before December 31 of each year and full consideration will be settled within eight years. In a related transaction, Beijing Digital Telecom Co., Ltd. entered into 20 agreements to dispose different stakes in Shanghai Dixin Electronics Communications Technology Co., Ltd. and Shanghai Dixin South Communication Technology Co., Ltd. to different buyers on July 15, 2019. For the period ended December 31, 2018, Shanghai Chuanda Communication Technology Co., Ltd. has reported total assets of CNY 127.23 million, net assets of CNY 78.53 million, revenue of CNY 381.91 million, profit before tax and after tax of CNY 4.26 million and CNY 3.19 million respectively. Beijing Digital Telecom Co., Ltd. shall complete the relevant procedures for change of industrial and commercial registration within 30 days after entering into the agreements.