SMI Culture & Travel Group Holdings Limited (SEHK:2366) entered into a memorandum of understanding to acquire unknown stake in Poly Film Investment Co., Ltd from Poly Culture Group Corporation Limited (SEHK:3636) on September 11, 2019. SMI Culture & Travel Group Holdings Limited will acquire all or part of the equity interests in Poly Film Investment Co., Ltd for a maximum of HKD 3 billion. The final consideration for acquisition of all and/or part of the equity interests in Poly Film Investment will be determined by both parties and will be included in the formal equity transfer agreement. The consideration for the transaction will be paid by SMI Culture & Travel Group by issuance of shares. The transaction is subject to entering into formal equity transfer agreement.

SMI Culture & Travel Group Holdings Limited (SEHK:2366) cancelled the acquisition of unknown stake in Poly Film Investment Co., Ltd from Poly Culture Group Corporation Limited (SEHK:3636) on September 11, 2020.