Great Wall International ACG Co., Ltd. (SZSE:000835) signed an equity transfer agreement to acquire Beijing Mini World Cultural Exchange Co., Ltd. from Wang Zhongwen, Hong Binglei, Wang Chaoji and Wang Xuewei for approximately CNY 140 million on March 30, 2018. Under the terms of transaction, Great Wall International ACG Co., Ltd. will acquire 50% stake from Wang Zhongwen, 25% stake from Hong Binglei, 15% stake from Wang Chaoji and 10% stake from Wang Xuewei; and will pay 35% of consideration within thirty days since delivery of underlying equity and completion of change of registry procedures, second installment of 15% stake of transactional price will be paid within 30 days since publication of the 2018 financial statement, a third installment of 20% of the transactional price will be paid within 30 days since publication of the 2019 financial statement and a fourth installment of 30% of the transactional price will be paid within 30 days since publication of the 2020 financial statement of Beijing Mini World Cultural Exchange Co., Ltd. As on September 30, 2017, Beijing Mini World Cultural Exchange Co., Ltd. had total assets of CNY 74.5 million and net assets of CNY 64.3 million. The transaction has been approved by the Board of Great Wall International ACG Co., Ltd. The transaction is expected to be completed within thirty days since the signing of the equity transfer agreement.