MIG Unmobi Technology Inc. (SZSE:300242) agreed to acquire remaining 86.5% stake in Beijing Xiaozi Technology Co., Ltd from a group of investors for approximately CNY 610 million on July 29, 2016. The consideration is paid in cash of CNY 211.9 million and stock of CNY 393.4 million, consisting of 11.2 million shares to be issued at CNY 35.01 per share. The investor group comprises of Li Huaizhuang, Wang Kun, Liu Jing, Lin Lixian, Men Qingjuan, Zhuhai Hengqin Anci Culture Hulian Equity Investment Fund Enterprise (Limited Partnership) and Zhangshu Yunzhong Investment Management Center (Limited Partnership). Pursuant to the transaction, Xiaozi Tech will be wholly owned by MIG Unmobi Technology Inc. In a related transaction, MIG Unmobi Technology Inc. agreed to acquire remaining 90% stake in Wuxi Online and Offline Network Technology Co., Ltd. for approximately CNY 400 million. MIG Unmobi Technology Inc. (SZSE:300242) agreed to acquire remaining 86.5% stake in Beijing Xiaozi Technology Co., Ltd from a group of investors for approximately CNY 1.6 billion on September 26, 2016. Under the revised terms of the transaction, MIG Unmobi Technology Inc. will issue 40.04 million shares to the sellers along with cash. Li Huaizhuang will get 13.7 million shares, Wang Kun will get 10.7 million shares, Liu Jing will get 5.6 million shares, Lin Lixian will get 4.6 million shares, Men Qingjuan will get 4.6 million shares, Zhuhai Hengqin Anci Culture Hulian Equity Investment Fund Enterprise (Limited Partnership) will get 0.66 million shares. For the year ended December 31, 2015, Beijing Xiaozi Technology Co., Ltd reported total assets of CNY 54.6 million, owner’s equity of CNY 38.6 million, revenues of CNY 62.2 million, operating profit of CNY 9.6 million and net profit of CNY 7.5 million. The transaction is subject to approval from the shareholders of MIG Unmobi Technology Inc. and CSRC. The shareholders of Beijing Xiaozi Technology Co., Ltd and the Board of Directors of MIG Unmobi Technology Inc. approved the transaction. As of October 19, 2016 China Securities Regulatory Commission, that the China Securities Regulatory Commission Merger and Reorganization Committee of Listed Companies rejected the transaction. As of December 15, 2016, the transaction was rejected by China Securities Regulatory Commission. Citi Orient Securities Company Ltd. acted as financial advisor, Grandway Law Offices acted as legal advisor and GP Certified Public Accountants Co Ltd acted as accountant for MIG Unmobi Technology Inc. MIG Unmobi Technology Inc. (SZSE:300242) cancelled the acquisition of remaining 86.5% stake in Beijing Xiaozi Technology Co., Ltd from a group of investors on June 23, 2017. TopScore Fashion Shoes Co., Ltd. (SHSE:603608) agreed to acquire Beijing Xiaozi Technology Co., Ltd. from Zhangshu Yunzhong Investment Management Center (Limited Partnership), Zhuhai Hengqin Anci Culture Hulian Equity Investment Fund Enterprise (Limited Partnership), Li Huaizhuang, Liu Chang and Lin Lixian for approximately CNY 880 million on June 23, 2017.