Yu Xiaofei signed a share transfer agreement to acquire 5% stake in DMG Entertainment and Media Co., Ltd. (SZSE:002143) from Xiao Wenge and Beijing Yinji Huacheng Investment Centre (Limited Partnership) for CNY 1 billion on May 7, 2018. The offer per share is CNY 11.8. Under the terms of the deal, Xiao Wenge will transfer out 81.4 million shares accounting for 4.6% stake for CNY 960.8 million and Beijing Yinji Huacheng Investment Centre (Limited Partnership) will transfer out 7.1 million shares accounting for 0.4% stake for CNY 83.5 million to Yu Xiaofei in DMG Entertainment and Media Co., Ltd. Upon completion, Xiao Wenge will hold 779.5 million shares and Beijing Yinji Huacheng Investment Centre (Limited Partnership) will hold 219.1 million shares. Yu Xiaofei completed the acquisition of 5% stake in DMG Entertainment and Media Co., Ltd. (SZSE:002143) from Xiao Wenge and Beijing Yinji Huacheng Investment Centre (Limited Partnership) on June 7, 2018.