MIG Technology INC (SZSE:300242) signed a stake transfer agreement to acquire 9% stake in Beijing Double Line Advertising Co., Ltd. from Xu Lei for CNY 9 million on December 20, 2015. From January to September 2015, Beijing Double Line Advertising reported total assets of CNY 26.34 million, net assets of CNY 4.35 million, operating revenues of CNY 55.06 million and net profit of CNY 7.46 million. As of January 21, 2015, the Board of Directors of MIG Technology INC approved the acquisition. MIG Technology INC (SZSE:300242) cancelled the acquisition of 9% stake in Beijing Double Line Advertising Co., Ltd. from Xu Lei on December 20, 2016.