Vision (Shenzhen) Software Technology Co., Ltd agreed to acquire Chengdu Clou Electronics Co., Ltd. from Shenzhen Clou Electronics Co., Ltd. (SZSE:002121) for approximately CNY 490 million on September 3, 2019. A first installment of CNY 282.25 million will be paid within 2 days after the payment of CNY 94.2 million corresponding to the transfer price of Nanchang Kelu Zhineng Power Grid Technology Co., Ltd. payable by Chengdu Clou Electronics Co., Ltd. to Shenzhen Clou Electronics Co., Ltd. is paid. The rest of the purchase price will be paid within 2 days since delivery of underlying equity. For the year ended December 31, 2018, Chengdu Clou Electronics Co., Ltd. had total assets of CNY 212.95 million, net assets of CNY 204.16 million, operating revenue of CNY 13.15 million, operating loss of CNY 1.91 million and net loss of CNY 1.88 million. The transaction was approved by the Board of Shenzhen Clou Electronics Co., Ltd.