Shenzhen Zhongfeng Global Electronics Co., Ltd signed a stake transfer agreement to acquire 75% stake in Zhengzhou Cable Co., Ltd. from Nuode Investment Co., Ltd. (SHSE:600110) for CNY 52.2 million on March 4, 2016. In a related transaction, A Shenzhen-based electronics company agreed to acquire Shanghai China Kinwa Science and Technology Develop Co., Ltd. from Nuode Investment Co., Ltd. (SHSE:600110) for approximately CNY 170 million on March 4, 2016. As of September 30, 2015, Zhengzhou Cable reported total assets of CNY 672 million, total liabilities of CNY 512 million and net assets of approximately CNY 160 million.

For period January 2015 to September 2015, Zhengzhou Cable reported operating revenues of CNY 244 million and net loss of CNY 31.2 million. The Board of Directors of Nuode Investment approved the transaction on March 4, 2016.