Suzhou Hesheng Special Material Co.,Ltd. (SZSE:002290) agreed to acquire 26.5% stake in Jinyingma Media Co., Ltd. from Teng Zhan for approximately CNY 220 million in cash on January 30, 2014. As Part of the consideration, Suzhou Hesheng Special Material Co.,Ltd. must pay Teng Zhan a deposit of CNY 50 million within 3 working days after the signing of the agreement. Shareholders of Suzhou Hesheng Special Material Co.,Ltd. approved the transaction on February 17, 2014.

As of February 24, 2014, the transaction has been approved by Board of Directors of Suzhou Hesheng Special Material Co., Ltd. On March 29, 2014, the shareholders of Jinyingma Media approved the transaction. On April 14, 2014, the share transfer agreement was signed.