Shenzhen Colibri Technologies Co., Ltd. (SZSE:002957) signed an equity transfer agreement to acquire Shenzhen Diguang Electronics Company from Shenzhen Ruidong Investment Co., Ltd. for CNY 76.9 million on October 22, 2019. Under the terms, 50% of consideration will be paid within 15 days since entering into force of the respective agreement and the remaining 50% will become payable within 30 days since completion of change of registry procedures. The entire consideration will be paid in cash. Shenzhen Diguang Electronics generated revenues of CNY 11.01 million, operating loss of CNY 8.39 million and net loss of 8.36 million for the year ended December 31, 2019. As of December 31, 2019, Shenzhen Diguang had total assets of CNY 71.09 million and negative owner's equity of CNY 18.08 million. The transaction is subject to approval from shareholders of Shenzhen Colibri. The transaction was approved by Board of Shenzhen Colibri. Shenzhen Colibri Technologies' Company’s shareholders approved the said matter in its 3rd extraordinary general meeting of 2019 on November 11, 2019. Shenzhen Colibri Technologies Co., Ltd. (SZSE:002957) completed the acquisition of Shenzhen Diguang Electronics Company from Shenzhen Ruidong Investment Co., Ltd. on November 27, 2019. Shenzhen Colibri Technologies Co., Ltd. paid the initial equity transfer payment to Ruidong investment and completed Shenzhen emperor Guanggong changed the registration procedures and obtained 100% equity on November 27, 2019.