Great Wall Movie and Television Co., Ltd. (SZSE:002071) signed equity transfer agreement to acquire 64.5% stake in Anhui Maren Qifeng Culture And Tourism Co., Ltd. from Wuhu Honghuashan Investment Group Co., Ltd. for CNY 50.3 million on September 27, 2017. Under the transaction, consideration will be paid in cash and might be modified according Anhui Maren Qifeng Culture & Tourism Co.,Ltd.’s performance for the years of 2017, 2018, 2019 and 2020. Great Wall Movie and Television Co., Ltd. will acquire 33.5 million shares and will pay CNY 50.3 million in cash as first installment rest further five installment will be paid with in 30 working days respectively on the basis of financial performance and the amount will be deducted according to the rules. The transaction is subject to shareholder approval of Great Wall Movie and Television Co., Ltd. On September 29, 2017, transaction has been approved by the Board of Great Wall Movie and Television Co., Ltd. The shareholders of Great Wall Movie and Television Co., Ltd. approved the transaction. Great Wall Movie and Television Co., Ltd. (SZSE:002071) completed the acquisition of 64.5% stake in Anhui Maren Qifeng Culture And Tourism Co., Ltd. from Wuhu Honghuashan Investment Group Co., Ltd. on December 14, 2017.