Beijing Changfeng Yunfan Technology Center (Limited Partnership), Beijing Junye Tonghui Technology Center (Limited Partnership), Beijing Hongtu Tongsheng Technology Development Center (Limited Partnership) and Yang Suhong signed an agreement to acquire 48% stake in Beijing Sumavision Technologies Technology Co., Ltd. from Sumavision Technologies Co.,Ltd. (SZSE:300079) for CNY 21 million on November 28, 2019. Beijing Changfeng Yunfan Technology Center (Limited Partnership), Beijing Junye Tonghui Technology Center (Limited Partnership), Beijing Hongtu Tongsheng Technology Development Center (Limited Partnership) and Yang Suhong will acquire 6%, 16%, 14% and 6% stake for CNY 0.3 million, CNY 0.8 million, CNY 0.7 million and CNY 0.3 million respectively. Sumavision Technologies Co.,Ltd. will own 58% stake in Beijing Sumavision Technologies Technology after completion of the transaction. The transfer include Beijing Sumavision Technologies Technology’s core talent partnership platform and newly introduced strategic investors, etc. At the same time, Sumavision Technologies plans to accept the CNY 7 million capital increase of new shareholders and formulate performance evaluation and incentive plans for the next four years of Beijing Sumavision Technologies Technology. Beijing Sumavision Technologies Technology reported total revenue of CNY 7.9 million, total assets of CNY 24.1 million, net assets of CNY 18.1 million, operating loss and net loss of CNY 6.7 million for the year ending, December 31, 2018. The transaction was approved by the Board of Sumavision Technologies Co.,Ltd. (SZSE:300079).