Shanghai Sense Software Technology Co., Ltd. agreed to acquire Shenzhen Zhangzhong Information Technology Co., Ltd. from MIG Technology INC (SZSE:300242), Yuan Chun and others in cash, stock and assets on August 3, 2015. Under the terms of transaction, cash payment is CNY 21.39 million and share payment is CNY 25.77 million for the 12% stake at CNY 3 per share, Shanghai Sense Software Technology Co., Ltd. will issue 8.59 shares to MIG Technology. MIG Technology shall sell 12% stake while Yuan Chun shall transfer 74.36% stake to Shanghai Sense Software. Shanghai Sense Software Technology Co., Ltd. will exchange all of its assets and liabilities for Shenzhen Zhangzhong Information Technology’s 74.36% stake. As of December 31, 2014, Shenzhen Zhangzhong Information Technology had total assets of CNY 47.23 million, total liabilities of CNY 9.19 million, and net assets of CNY 38.05 million. In 2014, Shenzhen Zhangzhong Information Technology realized revenue of CNY 65.93 million and net profit of CNY 21.21 million attributable to parent company. MIG Technology will hold extra ordinary general meeting of shareholders on August 20, 2015, seeking approval for the transaction. The transaction has been approved by MIG Technology Board. On August 20, 2015, the shareholders of MIG Technology approved the transaction. Shanghai Sense Software Technology Co., Ltd. cancelled the acquisition of Shenzhen Zhangzhong Information Technology Co., Ltd. from MIG Technology INC (SZSE:300242), Yuan Chun and others in cash, stock and assets on August 3, 2016.