Ningbo Rongxin Zhiming Equity Invesmtent Partnership (Limited Partnership) signed an equity transfer agreement to acquire an additional 0.22% stake in Focus Media Technology (Shanghai) Co., Ltd. from Sichuan Tongsheng Investment Co., Ltd. for CNY 100 million on August 20, 2015. Ningbo Rongxin Zhiming Equity currently holds 1.44% stake in Focus Media Technology (Shanghai) Co., Ltd. As on August 27, 2015, Shanghai Municipal Commission of Commerce approved the transfer. The transaction was approved by the Board of Focus Media Technology (Shanghai) Co., Ltd.