Shifen Natural (Shanghai) Cultural Communication Co., Ltd. signed the share transfer agreement to acquire 6.89% stake in Shanghai New Culture Media Group Co., Ltd. (SZSE:300336) from Shanghai QuFeng International Trade Co., Ltd. on July 25, 2019. Shifen Natural will acquire 55.6 million shares. After the transaction, Shifen Natural will own 55.6 million shares accounting for 6.89% stake. Before equity change, Shanghai QuFeng International Trade Co., Ltd. holds 145.9 million shares of Shanghai New Culture Media Group Co., Ltd. accounting for 18.10% stake. After equity change, Shanghai QuFeng International Trade Co., Ltd. will hold 90.4 million shares accounting for 11.21% stake. This share transfer matter is still subject to approval from Shanghai New Culture Media Group Co., Ltd. Board of Directors and shareholders regarding exemption of voluntary share lock-up commitments. Shifen Natural (Shanghai) Cultural Communication Co., Ltd. cancelled the acquisition of 6.89% stake in Shanghai New Culture Media Group Co., Ltd. (SZSE:300336) from Shanghai QuFeng International Trade Co., Ltd. on July 25, 2020.