MIG Technology INC (SZSE:300242) signed a share transfer agreement to acquire 10% stake in Wuxi Online and Offline Network Technology Co., Ltd. from Zhangshu Rongyu Investment Management Center (Limited Partnership) for CNY 17 million on February 26, 2016. After the transaction, MIG Technology will own 10% stake in Wuxi Online and Offline Network Technology Co., Ltd. Wuxi Online and Offline Network Technology Co., Ltd. reported total assets of CNY 56.44 million, net assets of CNY 27.39 million, revenue of CNY 83.16 million and net profit of CNY 16.48 million for 2015. The transaction was approved by the Board of Directors of MIG Technology.

On February 26, 2016 shareholders of Wuxi Online and Offline Network Technology Co., Ltd. approved the transaction.

MIG Technology INC (SZSE:300242) completed the acquisition of 10% stake in Wuxi Online and Offline Network Technology Co., Ltd. from Zhangshu Rongyu Investment Management Center (Limited Partnership) on July 25, 2016.