e-Kong Group Limited (SEHK:524) entered into a non-legally binding term sheet to acquire Allied Crown Investment Limited and Arbo International Limited on July 20, 2015. In a related transaction, e-Kong Group Limited entered into a non-legally binding term sheet to acquire Enraytek Optoelectronics Co., Ltd. from Nice Wisdom Limited on July 20, 2015. As on November 11, 2016, e-Kong Group Limited entered into an agreement to acquire Allied Crown Investment Limited and Arbo International Limited from Cui Tao and Wu Tao respectively for CNY 0.1 million each. Further, e-Kong Group will advance a loan of CNY 22 million to Allied Crown and CNY 20 million to Arbo International for settlement of their payment obligation in respect of the unpaid 20% registered capital of Konka Lighting under the Konka Lighting Agreement respectively. As a result of the deal, Allied Crown and Arbo International will become wholly owned subsidiaries of e-Kong Group. The deal is subject to approval of shareholders of e-Kong Group and due diligence review. The deal is expected to be completed within three days after the conditions are fulfilled.

e-Kong Group Limited (SEHK:524) cancelled the acquisition of Allied Crown Investment Limited and Arbo International Limited on January 31, 2016.