Hangzhou Anysoft Information Technology Co., Ltd. (SZSE:300571) entered into an agreement to acquire 51% stake in Shenzhen Zhaoneng Communication Technology Co., Ltd. from Gongqingcheng Junyuan Wentong Investment Management Partnership and Zhang Hui for approximately CNY 110 million on March 4, 2019. Out of total consideration, 20% will be paid within 5 days since signing of the agreement and remaining will be paid within 10 days since completion of the transaction. For the year ended December 31, 2018, Shenzhen Zhaoneng Communication Technology Co., Ltd. reported total assets of CNY 340.96 million, net assets of CNY 16.96 million, revenue of CNY 327.9 million, and net loss of CNY 4.7 million. The transaction is subject to approval from the shareholders’ meeting of Hangzhou Anysoft Information Technology Co., Ltd. On March 5, 2019, the transaction was approved by the 2nd meeting of the 3rd directorate of Hangzhou Anysoft Information Technology Co., Ltd. On March 21, 2019, the transaction was approved by the 3rd special shareholders’ meeting for 2019 of Hangzhou Anysoft Information Technology Co., Ltd.