Boweitong (Xiamen) Technology Co., Ltd. agreed to acquire 70% stake in Broadway Technology (Shenzhen) Co., Ltd. and 70% stake in Bravo Tech Telecommunication Systems (Shenzhen) Co., Ltd. from Boomsense Technology Co.,Ltd. (SZSE:300312) for approximately CNY 160 million on December 2, 2016. The transaction is subject to approval of shareholders of Boomsense Technology Co.,Ltd. Board of Directors of Boomsense Technology Co.,Ltd approved the transaction on December 2, 2016. As on December 19, 2016, transaction was approved by shareholders of Boomsense Technology in extraordinary general meeting. Boweitong (Xiamen) Technology Co., Ltd. cancelled the acquisition of 70% stake in Broadway Technology (Shenzhen) Co., Ltd. and 70% stake in Bravo Tech Telecommunication Systems (Shenzhen) Co., Ltd. from Boomsense Technology Co.,Ltd. (SZSE:300312) on June 19, 2017. Transaction was cancelled as the concerning parties failed to reach agreement.