Tiantai County Fusheng Trading Co., Ltd. and Hangzhou Fushi Chuxia Technology Information Co., Ltd. agreed to acquire a 25% stake in Beijing Fushi Jiayi Culture Media Co., Ltd. from Spearhead Integrated Marketing Communication Group (SZSE:300071) for CNY 1 on September 29, 2021. As part of the transaction, Tiantai County will acquire 10% stake and Hangzhou Fushi Chuxia will acquire 15% stake in Beijing Fushi Jiayi. Post completion Spearhead Integrated will hold 35% stake in Beijing Fushi Jiayi. For the period ended June 30, 2021, Beijing Fushi Jiayi reported Total assets of CNY 0.3 million and Net assets of CNY -26100. The transaction approved by the board of directors of Spearhead Integrated and does not need to be submitted to the general meeting of shareholders for deliberation and does not require approval by the relevant authorities. Tiantai County Fusheng Trading Co., Ltd. and Hangzhou Fushi Chuxia Technology Information Co., Ltd. completed the acquisition of a 25% stake in Beijing Fushi Jiayi Culture Media Co., Ltd. from Spearhead Integrated Marketing Communication Group (SZSE:300071) recently.