Shenzhen Fengzhiquan Import and Export Co., Ltd agreed to acquire Bainian Jinhai Technology Co., Ltd from Shenzhen Clou Electronics Co., Ltd. (SZSE:002121) for CNY 1 on March 31, 2019. Bainian Jinhai Technology reported total assets of CNY 549. 04 million, net liabilities of CNY 134.9 million, revenue of CNY 86.3 million and net loss of CNY 373.2 million as of December 31, 2018. The deal is subject to approval from the shareholders of Shenzhen Clou Electronics at the meeting. The transaction was approved by the Board of Directors of the Shenzhen Clou Electronics at the 2nd interim session of the 7th directorate meeting. Shenzhen Fengzhiquan Import and Export Co., Ltd cancelled the acquisition of Bainian Jinhai Technology Co., Ltd from Shenzhen Clou Electronics Co., Ltd. (SZSE:002121).