Sichuan Gangrong Investment Development Group Co., Ltd. signed a share transfer agreement to acquire a 38% stake in Shenzhen Dekon Electronics Co., Ltd. from Shenzhen Deren Electronic Co., Ltd. (SZSE:002055) and an unknown seller for approximately CNY 130 million on December 12, 2018. Under the terms, Shenzhen Deren Electronic Co., Ltd. will sell 28% stake for CNY 98 million and the unknown seller will sell 10% stake for CNY 35 million. Post completion of the transaction, Shenzhen Deren Electronic Co., Ltd. and the unknown seller will continue to hold 42% and 20% stake respectively in Shenzhen Dekon Electronics Co., Ltd. For the year ended December 31, 2017, Shenzhen Dekon Electronics Co., Ltd. had total assets of CNY 110.8 million, net assets of CNY 12.7 million, revenue of CNY 105.05 million, and net loss of CNY 4.45 million. As of December 12, 2018, the transaction was approved by the Board of Directors of Shenzhen Deren Electronic Co., Ltd. in 8th meeting of 6th directorate. Sichuan Gangrong Investment Development Group Co., Ltd. completed the acquisition of 38% stake in Shenzhen Dekon Electronics Co., Ltd. from Shenzhen Deren Electronic Co., Ltd. (SZSE:002055) and an unknown seller on February 18, 2019. Shenzhen Deren Electronic Co., Ltd. received the full payment from Sichuan Gangrong Investment Development Group Co., Ltd. on December 20, 2018. The change in business registration procedures for the share transfer got completed on February 18, 2019 and the post-change business license was obtained.