Nexgo Inc. (SZSE:300130) signed the stake transfer agreement to acquire JLPAY Technology Co., Ltd from Shannan Minsida Technology Co., Ltd for CNY 710 million on November 20, 2017. The consideration will be paid in cash. Post transaction, Nexgo will hold 100% stake in JLPAY Technology Co., Ltd. As of December 31, 2016, JLPAY Technology Co., Ltd reported total assets of CNY 409.9 million, net assets of CNY 142.3 million, revenue of CNY 522.7 million, operating loss of CNY 10.8 million and net loss of CNY 8.7 million. This transaction is subject to the approval of the shareholders of Nexgo Inc and approval of the People's Bank of China. The transaction is approved by the Board of Directors of Nexgo Inc. The shareholders of Nexgo Inc approved the transaction on December 7, 2017. The transaction is approved by the Head Office of the People's Bank of China on February 5, 2018.