Tibet Jingyuan Enterprise Management Co., Ltd. signed an agreement to acquire 15% stake in Huayi Brothers Tianjin Shijing Entertainment Co. Ltd. from Huayi Brothers Media Corporation (SZSE:300027) for approximately CNY 230 million on August 13, 2021. Prior to this transaction, the Huayi Brothers Media Corporation owns 54% stake in the Huayi Brothers Tianjin Shijing Entertainment Co. Ltd., Tibet Jingyuan Enterprise Management Co., Ltd. owns 19.7143% stake. After this transaction, the Huayi Brothers Media Corporation will own 39% stake in the Huayi Brothers Tianjin Shijing Entertainment Co. Ltd and Tibet Jingyuan Enterprise Management Co., Ltd. will own 34.1743%. As on June 30, 2021, reported total assets of CNY 435.613982 million, net assets of CNY 431.394175 million, Revenue of CNY 6.391336 million, Operating income of CNY 24.909894 million and Net profit of CNY 24.888416 million. Transaction needs to be approved by the shareholders of Huayi Brothers Media Corporation. Transaction is approved by the Board of Huayi Brothers Media Corporation.