Lawton Development Co., Ltd. (SHSE:600209) signed an intention agreement to acquire Beijing Kuxuan Network Technology Co., Ltd. from Guo Lei, Zhejiang News Media Technology (Zhejiang) Co., Ltd., Tianjin Kuntai Dingsheng Enterprise Management Consulting Center (Limited Partnership), Advisory Center (Limited Partnership) and other shareholders on May 10, 2021. Lawton Development Co., Ltd. will pay the consideration in shares and cash. Parties will actively promote signing of the formal agreement for the transaction within six months from the date of the initial agreement of intent taking effect. If the formal agreement is not signed during the above-mentioned period and the two parties fail to reach an agreement on continuing to advance the transaction, the transaction will be automatically terminated. In a related transaction, Lawton Development Co., Ltd. will issue shares to no more than 35 investors to raise supporting funds. Lawton Development Co., Ltd. (SHSE:600209) cancelled the acquisition of Beijing Kuxuan Network Technology Co., Ltd. from Guo Lei, Zhejiang News Media Technology (Zhejiang) Co., Ltd., Tianjin Kuntai Dingsheng Enterprise Management Consulting Center (Limited Partnership), Advisory Center (Limited Partnership) and other shareholders on May 25, 2021