Beijing Interact Technology Co.,Ltd. (SZSE:300419) entered into an agreement to acquire Beijing Xinyuantong Technology Co., Ltd. from a group of sellers for approximately CNY 350 million on April 20, 2020. Under the terms of transaction, Consideration will be paid in cash and shares. Beijing Interact will pay CNY 106 million in cash to Sun Chengwen and remaining consideration will be made by issuing 54.2 million shares of Beijing Interact at CNY 4.57 per share for totaling CNY 247.8 million. The transaction will be financed by raising supporting funds of not more than 100% of the acquisition’s price by issuing shares of not more than 30% of total share capital to not more than 35 investors at the issue price of not less than 80% of the average price in the 20 trading days before the pricing reference date. The matching funds to be raised in PP will not exceed CNY 247 million. For the year ended December 31, 2019, Beijing Xinyuantong Technology had total assets of CNY 25.8 million, net assets of 0.8 million, revenues of CNY 24.04 million, operating loss of CNY 2.4 million and net loss of CNY 1.7 million. The transaction has been approved by Beijing Xinyuantong Technology’s Internal Decision-Making Institutions and by the Board of Directors at the 6th Meeting of Beijing Interact Technology’s 4th Directorate. The amendment proposal for this transaction has been reviewed and approved at the 10th meeting of the 4th board of directors of Beijing Interact Technology. The transaction is subject to Beijing Interact Technology’s shareholders’ approval and CSRC’s approval. On April 19, 2020, September 28,2020 and February 10,2021, Beijing Interact Technology Co.,Ltd conducted shareholders meeting and approved the equity transfer. On January 8, 2021, January 19, 2021, the listed company held the 16th and 17th meeting of the fourth board of directors, which reviewed and approved the "Report on Issuing Shares and Paying Cash to Purchase Assets and Raising Supporting Funds and Related Party Transactions. On January 26, 2021, the listed company held the eighteenth meeting of the fourth board of directors, and reviewed and approved the "Report on Issuing Shares and Paying Cash to Purchase Assets and Raising Supporting Funds and Related Party Transactions (Draft) (Fourth Revised Draft)" And its summary and other proposals related to this transaction. Zhong De Securities Company Limited acted as financial advisor, Grandway Law Offices acted as legal advisor and Mazars Certified Public Accountants LLP acted as accountant to Beijing Interact Technology Co.,Ltd in the deal. Beijing Interact Technology Co.,Ltd. (SZSE:300419) cancelled the acquisition of Beijing Xinyuantong Technology Co., Ltd. from a group of sellers on June 4, 2021. The Board of Directors of Beijing Interact Technology Co.,Ltd. approved the termination of the transaction.