Yu Chengfu agreed to acquire additional 30% stake in Shenzhen Danale Technologies Co., Ltd. from Nexgo Inc. (SZSE:300130) for CNY 4.1 million on November 13, 2017. Shenzhen Danale Technologies Co., Ltd. reported total assets of CNY 23.8 million, net assets CNY 22.7 million, operating revenue of CNY 2.9 million, operating loss of CNY 17.1 million and net loss of CNY 17.3 million for the year ended December 31, 2016. Yu Chengfu holds 14% stake in Shenzhen Danale Technologies Co., Ltd. before the transaction. After this transaction, Nexgo Inc. will no longer hold any stake in Shenzhen Danale Technologies Co., Ltd. On November 13, 2017, Nexgo Inc. held the 7th session of the 4th directorate and approved this transaction. This transaction does not need approval from the shareholder’s meeting of Nexgo Inc. Yu Chengfu cancelled the acquisition of additional 30% stake in Shenzhen Danale Technologies Co., Ltd. from Nexgo Inc. (SZSE:300130) on November 13, 2018.