Boweitong (Xiamen) Technology Co., Ltd. agreed to acquire 30% in Bravo Tech (Shenzhen) Co., Ltd. from Boomsense Technology Co.,Ltd. (SZSE:300312) for CNY 20.8 million on June 9, 2017. In a related transaction, Boweitong (Xiamen) Technology Co., Ltd. will acquire 30% stake in Bravo Communication System (Shenzhen) Co., Ltd. from Boomsense Technology Co.,Ltd. for CNY 53.6 million. For the year ended December 31, 2016, Bravo Tech (Shenzhen) Co., Ltd. reported total assets of CNY 120.6 million, net assets of CNY 50.9 million, revenue of CNY 6.5 million and net loss of CNY 5.2 million. The transaction is subject to approval from shareholders of Boomsense Technology Co.,Ltd. The transaction has been approved by Board of Boomsense Technology Co.,Ltd. Boomsense Technology Co.,Ltd. will use proceeds from the transactions to carry out capital increase in Boweitong (Xiamen) Technology Co., Ltd. Boweitong (Xiamen) Technology Co., Ltd. cancelled the acquisition of 30% in Bravo Tech (Shenzhen) Co., Ltd. from Boomsense Technology Co.,Ltd. (SZSE:300312) on June 9, 2018.