Beijing Leyele Film and Television Co., Ltd. entered into a share transfer agreement to acquire 88% stake in Beijing Bian Chuntian Entertainment Co., Ltd. from Tech Semiconductors Co., Ltd. (SZSE:300046) for CNY 51 million on February 5, 2021. On Tech Semiconductors Co., Ltd.'s Directorate Meeting date, Beijing Leyele Film and Television Co., Ltd. will pay CNY 6 million. On Tech Semiconductors Co., Ltd.'s Shareholders Meeting date, Beijing Leyele Film and Television Co., Ltd. will pay CNY 20.03 million. Before December 15, 2021, Beijing Leyele Film and Television Co., Ltd. will pay CNY 25.01 million. For the year ending December 2020, Beijing Bian Chuntian Entertainment Co., Ltd. reported total assets of CNY 114.14 million, net assets of CNY 56.64 million, revenues of CNY 122.71 million, operating loss of CNY 10.37 million and net loss of CNY 4.96 million. The transaction is subject to the Shareholders’ Approval of Tech Semiconductors Co., Ltd. and has been approved in the 24th Meeting of Tech Semiconductors Co., Ltd.'s 4th Directorate held on February 5, 2021.