Li Jun, Lu Jiayao, Guo Jing and Liao Dong entered into the sale and purchase agreement to acquire 65.3% stake in Century Sage Scientific Holdings Limited (SEHK:1450) from Cerulean Coast Limited and Future Miracle Limited for approximately HKD 110 million on July 30, 2021. Under the terms of the transaction, Cerulean Coast Limited will sell 316.2 million shares to Li Jun for HKD 49.6 million and 303.6 million shares to Lu Jiayao for HKD 47.7 million. Future Miracle Limited agreed to sell 7.3 million shares to Li Jun for HKD 1.1 million, 20.7 million shares to Guo Jing for HKD 3.3 million and 32 million shares to Liao Dong for HKD 5 million. Upon completion, Cerulean Coast Limited will hold 47.7 million shares and Future Miracle Limited will no longer hold any shares in Century Sage Scientific Holdings Limited. The purchase price will be funded by internal resources. The transaction is subject to all necessary approvals of the board of directors and the shareholder Cerulean Coast Limited and Future Miracle Limited. It is intended that the net proceeds will be applied for approximately 45% of the net proceeds will be applied for repayment of liabilities of the group; approximately 32% of the net proceeds will be applied for expansion of video system technologies into other industries and approximately 23% of the net proceeds will be applied for exploring and grasping the opportunities of new media market and e-commerce live broadcasting platform by using video streaming media live broadcasting technology. Li Jun, Lu Jiayao, Guo Jing and Liao Dong completed the acquisition of 65.3% stake in Century Sage Scientific Holdings Limited (SEHK:1450) from Cerulean Coast Limited and Future Miracle Limited on August 31, 2021. All acquisition conditions were fulfilled in accordance with the sale and purchase agreement on August 30, 2021.