Simei Media Co.,Ltd. (SZSE:002712) agreed to acquire 20% stake in Shanghai KEYI Culture Communication Co., Ltd. from Lu Huifei and Deng Chong for approximately CNY 100 million in July 2016. In related deals, Simei Media Co.,Ltd. (SZSE:002712) agreed to acquire Hangzhou Zhangwei Technology Co., Ltd from Zhang Zigang, Zhang Jin, Zhang Ping, Zhang Qi and a group of companies for CNY 530 million and Grand Media Ltd. from a group of companies for approximately CNY 920 million on August 3, 2016. As reported, Simei Media Co. will issue 3.5 million shares at CNY 28.95 per share as consideration. During the year ended December 31, 2015, Shanghai KEYI Culture Communication Co. had total assets of CNY 20.5 million, total shareholders' equity of CNY 5.47 million, operating revenues of CNY 75.2 million, operating profit of CNY 19.04 million, and net profit of CNY 14 million. The transaction is subject to approval of Simei Media Co. shareholders and CSRC. In July 2016, Shanghai KEYI Culture Communication Co.'s shareholders’ meeting approved matters related to this transaction. In July 2016, all the seller companies' partners’ approved for the transfer of its entire stake in Hangzhou Zhangwei Technology Co., Ltd. to Simei Media Co. On January 18, 2017, Simei Media Co.,Ltd. received the approval of CSRC for the transaction. Guosen Securities Co., Ltd. (SZSE:002736) acted as the financial advisor , T&C Law Firm acted as the legal advisor and Pan-China Certified Public Accountants LLP acted as the accountant to Simei Media Co.,Ltd. Simei Media Co.,Ltd. (SZSE:002712) completed the acquisition of 20% stake in Shanghai KEYI Culture Communication Co., Ltd. from Lu Huifei and Deng Chong on March 2, 2017.