Overseas Chinese Town Enterprises Co. agreed to acquire 60% stake in Shenzhen Oct Vision Inc. from Shenzhen Overseas Chinese Town Co., Ltd. (SZSE:000069) for CNY 1.0 billion on April 11, 2017. In a related transaction, OCT Huadong Investment Co., Ltd. agreed to acquire Taizhou Overseas Chinese Town Co., Ltd. from Shenzhen OCT East Co., Ltd and Shenzhen Overseas Chinese Town Co., Ltd. for CNY 1.1 billion. For the year ended December 31, 2016, Shenzhen Oct Vision Inc. reported total assets of CNY 532.9 million, net assets of CNY 260.1 million, operating revenue of CNY 327.3 million, operating profits of CNY 95.5 million and net profits of CNY 89.5 million. The transaction is subject to approval from shareholders of Shenzhen Overseas Chinese Town Co., Ltd. The transaction has been approved by Board of Shenzhen Overseas Chinese Town Co., Ltd.