Fujian Boss Software Corp. (SZSE:300525) intends to acquire remaining 49% stake in Beijing Boss Zhixin Internet Technology Co., Ltd. from a group of shareholders for approximately CNY 350 million on May 25, 2020. Fujian Boss Software Corp. agreed to acquire remaining 49% stake in Beijing Boss Zhixin Internet Technology Co., Ltd. from a group of shareholders on June 15, 2020. Fujian Boss Software Corp. will issue 10.9 million shares as consideration. As of February 5, 2021, the terms were revised and Fujian Boss Software will now only issue 10.7 million shares as consideration. As of July 16, 2021, after fixing the terms were revised and Fujian Boss Software will now issue 15.03 million shares as consideration. Fujian Boss Software Corp. will now issue 4.9 million shares to Bosi Zhixin (Pingtan) Equity, 0.9 million shares each to Liu Shaohua, Bai Rui, Li Xianfeng, Cha Daopeng, Wu Jifeng, Hou Xiangqin, Ke Bingjun, and 0.6 million shares to Li Zhiguo as a consideration. Before this transaction, Fujian Boss Software Corp. held 51% equity of Beijing Boss Zhixin Internet Technology Co., Ltd. after the completion of this transaction, will hold 100% equity in Beijing Boss Zhixin Internet Technology Co., Ltd. In related transaction, Fujian Boss Software Corp. plans to raise CNY 160 million of matching funds from the Fujian Boss Software Corp. controlling shareholder and actual controller Chen Hang to issue shares and raise funds to pay for the transaction fee, the general service platform project of the government industry and supplement the working capital of the Fujian Boss Software Corp. The funds raised will not exceed 100% of the transaction price for the purchase of assets by issuing shares in this transaction. As of December 31, 2019, Beijing Boss Zhixin Internet Technology Co., Ltd. had total assets of CNY 1.81 billion, owner's equity of CNY 1.31 billion, revenues of CNY 898.77 million, operating profit of CNY 14.2 million and net profit of CNY 14.8 million. Transaction needs to be reviewed and approved by the shareholders' meeting of the Fujian Boss Software Corp., by the Shenzhen Stock Exchange and registered by the China Securities Regulatory Commission. On May 25, 2020, Boss Zhixin (Pingtan) Equity Investment Partnership (Limited Partnership) held a partners meeting, and all partners unanimously agreed to transfer their 16% equity of Beijing Boss Zhixin Internet Technology Co., Ltd. On June 15, 2020, the independent director of Fujian Boss Software Corp. issued the "Preliminary Approval Opinions of Independent Directors on the 23rd Meeting of the Third directorate of Fujian Boss Software Corp., and agreed to submit this transaction to the Fujian Boss Software Corp. Board of Directors and deliberate. On June 15, 2020, the 23rd meeting of the 3rd directorate of the Fujian Boss Software Corp. reviewed and approved this transaction. As on February 5, 2021, the amended transaction terms were unanimously approved by partners of Boss Zhixin (Pingtan) Equity Investment Partnership Enterprise (Limited Partnership) and was approved by the board of Fujian Boss Software. Zhang Hongtao of Huaan Securities Co., Ltd. (SHSE:600909) acted as Financial Advisor, Zhang Xuebing, Du Wei and Yao Tengyue of Zhong Lun Law Firm acted as legal advisers and Liang Chun, Wang Qinglian and Gui Houyuan of Moore Stephens Da Hua acted as accountants for Fujian Boss Software Corp. Fujian Boss Software Corp. (SZSE:300525) cancelled the acquisition of remaining 49% stake in Beijing Boss Zhixin Internet Technology Co., Ltd. from a group of shareholders on September 8, 2021. In view of the fact that the issuance of shares to purchase assets and the raising of supporting funds and related-party transactions has taken a long time since the planning, and the market environment has undergone major changes from the beginning of the reorganization plan, the company believes that there are major problems in continuing to advance the reorganization at this stage.