Linzhi Tencent Technology Company Limited agreed to acquire 27.64% stake in New Classics Media Corporation from Beijing Enlight Media Co., Ltd. (SZSE:300251) for CNY 3.3 billion on March 10, 2018. Post transaction, Linzhi Tencent Technology Company Limited will hold 27.64% stake in New Classics Media Corporation and Beijing Enlight Media Co., Ltd will not hold any stake in New Classics Media Corporation. New Classics Media Corporation reported total assets of CNY 4.2 billion, net assets of CNY 1.2 billion as of December 31, 2017 and revenues of CNY 1.7 billion, operating profit of CNY 401.4 million and net profit of CNY 348.9 million for the year ended December 31, 2017. The transaction is approved by the Board of Beijing Enlight Media Co., Ltd and is subject to approval by shareholders of Beijing Enlight Media Co., Ltd. KPMG acted as accountant to Linzhi Tencent Technology.