Shenzhen Boshitai Technology Co., Ltd. signed an agreement to acquire the remaining 20% stake in Shenzhen Ruibotai Elec Co., Ltd. from Shenzhen Xinguodu Technology Co. Ltd. (SZSE:300130) for CNY 28.6 million on June 27, 2016. On completion of the equity transfer, Shenzhen Xinguodu Technology Co. Ltd. will no longer hold any stake in Shenzhen Ruibotai Elec Co., Ltd. As of December 31, 2015, Shenzhen Ruibotai Elec reported total assets CNY 97.19 million, net assets of CNY 74.12 million, revenues of CNY 44.84 million and net profit of CNY 19.68 million. The transaction is subject to approval by the shareholders of Shenzhen Xinguodu Technology Co. The transaction has been approved by the Board of Directors of Shenzhen Xinguodu Technology Co. As of June 29, 2018, Shenzhen Xinguodu has already received a total payment of CNY 28.6 million from Shenzhen Boshitai Technology Co., Ltd and therefore the payment obligations are completed.