Shanghai Shunfei Enterprise Development Co., Ltd. agreed to acquire Shanghai MorningTec Co., Ltd. from COL Digital Publishing Group Co., Ltd. (SZSE:300364) for CNY 45.67 million on July 30, 2020. As per terms of transaction, Shanghai Shunfei Enterprise Development Co., Ltd. paid the security deposit of CNY 18 million for this transaction to the supervisory account and paid the first equity purchase consideration of CNY 12 million, the second equity purchase consideration of CNY 18 million will be paid within 2 working days after the completion of the registration of the industrial and commercial change of the equity transfer and the third equity purchase consideration of CNY 15.67 million to Chinese Online within 15 working days after completing the registration of the industrial and commercial change of the equity transfer. Post completion, Shanghai MorningTec Co., Ltd. will no longer be included in the scope of the COL Digital Publishing Group Co., Ltd consolidated statements. For the year ended December 31, 2019, Shanghai MorningTec Co., Ltd. reported total assets of CNY 91.430899 million, total owner equity of CNY 44.457531 million, operating revenue of CNY 20.761217 million, operating profit of CNY -274.141951 million and net profit of -279.432315 million. Transaction is approved by the board of COL Digital Publishing Group Co., Ltd.