Tianyi Capital Holding Co., Ltd., ShangHai Union Investment Co., Ltd., Orient International (Holding) Co., Ltd. and Chongqing BOE Smart Private Equity Investment Fund Partnership (Limited Partnership) agreed to acquire 50% stake in Shanghai Oriental Dragon New Media Co., Ltd. from Shanghai Oriental Pearl Group Co., Ltd. (SHSE:600637) for approximately CNY 500 million on April 30, 2021. On September 14, 2021, the Twenty-Fifth (Interim) Meeting of the Ninth Board of Directors of Shanghai Oriental Pearl deliberated and approved the Proposal. The transaction is also approved by Shanghai State-owned Assets Supervision and Administration Commission. Tianyi Capital Holding Co., Ltd., ShangHai Union Investment Co., Ltd., Orient International (Holding) Co., Ltd. and Chongqing BOE Smart Private Equity Investment Fund Partnership (Limited Partnership) completed the acquisition of 50% stake in Shanghai Oriental Dragon New Media Co., Ltd. from Shanghai Oriental Pearl Group Co., Ltd. (SHSE:600637) on December 27, 2021.