HaiNan Yedao (Group) Co., Ltd. (SHSE:600238) entered into a framework agreement to acquire 80% stake in Beijing BKS Media Technology Inc. from Yinchuan BKS Equity Investment Partnership (Limited Partnership), Beijing BKS Sports Industry Management Co., Ltd., Beijing Zhongcai BKS Sports Industry Investment Center (Limited Partnership), Beijing Juli Hongji Investment Management Co., Ltd,Liu Xiaohong, Liu Lixin and others on June 9, 2020. The consideration will be in shares at a price of CNY 4.09 per share. The transaction has been approved by board of HaiNan Yedao (Group) Co., Ltd. The transaction plan has been reviewed and approved by the internal decision-making body of the counterparties. The following approvals are pending, After the audit report and evaluation report of this transaction are issued, the Company once again convenes the board of directors to review and approve the transaction, The Company convenes a general meeting of shareholders to consider and approve the transaction plan and the proposal that the counterparty is exempt from issuing tender offer, Approval of transaction fromChina Securities Regulatory Commission and Other approvals or approvals that may be involved.