Guangzhou Haige Communications Group Incorporated Company signed an intent agreement to acquire 90% stake in Beijing Mojie Innovative Hi-tech Co., Ltd. for approximately CNY 470 million.

Guangzhou Haige Communications Group Incorporated Company (SZSE:002465) signed an intent agreement to acquire 90% stake in Beijing Mojie Innovative Hi-tech Co., Ltd. for approximately CNY 470 million on January 7, 2013. As of February 18, 2013, an agreement for the transaction was signed. For the year ended December 31, 2012, Beijing Mojie Innovative reported revenues of CNY 72.82 million, net income of CNY 27.81 million, total assets of CNY 130.06 million and net assets of CNY 106.58 million.

The shareholders of Beijing Mojie Innovative Hi-tech Co., Ltd. approved the transaction on February 5, 2013. The Board of Directors of Guangzhou Haige Communications approved the transaction.