Shanghai Kaiyu Information Technology Co., Ltd. signed a framework agreement to acquire a 30.31% stake in Spearhead Integrated Marketing Communication Group (SZSE:300071) from Liu Wei on December 9, 2018. Under the terms, Shanghai Kaiyu Information Technology Co., Ltd. intends to acquire 205.7 million shares. Payment will be done in 3 installments of 40%, 40% and 20% of the transactional price. The first installment will be paid after signing of the definitive formal agreement. The second installment will be paid after completion of changes in the Board of Directors of Spearhead Integrated Marketing Communication Group and Shanghai Kaiyu Information Technology Co., Ltd. obtains controlling stake and the third installment will be paid after completion of delivery of underlying equity. Shanghai Kaiyu Information Technology Co., Ltd. cancelled the acquisition of 30.31% stake in Spearhead Integrated Marketing Communication Group (SZSE:300071) from Liu Wei on December 9, 2019.