Geeya Technology Co., Ltd. signed an agreement to acquire an additional 7.5% stake in Kunchen Technology Co., Ltd. from Zhu Xiaozhang, Yang Deqiang, Wang Heng, Zhou Tao, Hu Yongjie and Beijing Hongtai Qihang Venture Capital Center (Limited Partnership) for CNY 12 million.

Geeya Technology Co., Ltd. (SZSE:300028) signed an agreement to acquire an additional 7.5% stake in Kunchen Technology Co., Ltd. from Zhu Xiaozhang, Yang Deqiang, Wang Heng, Zhou Tao, Hu Yongjie and Beijing Hongtai Qihang Venture Capital Center (Limited Partnership) for CNY 12 million on March 25, 2016. Zhu Xiaozhang, Yang Deqiang, Wang Heng, Zhou Tao and Hu Yongjie will sell 6.5% stake and Beijing Hongtai Qihang Venture Capital Center (Limited Partnership) will sell 1% stake. After the transaction, Geeya Technology Co., Ltd will hold 20% stake in Kunchen Technology Co., Ltd. Geeya Technology Co., Ltd will use own funds of CNY 12 million to acquire the stake.

Kunchen Technology reported total assets of CNY 5.87 million, total liabilities of CNY 0.48 million, total shareholders' equity of CNY 5.39 million, revenues of CNY 0.09 million, total and net loss of CNY 1.37 million in 2015. The transaction is not subject to approval of shareholders' of Geeya Technology Co., Ltd. The Board of Geeya Technology approved the transaction on March 25, 2016.