Shenzhen Bingchuan Network Co.,Ltd. (SZSE:300533) agreed to acquire 16.25% stake in Shenzhen Chuanbo Network Technology Co., Ltd. from Xinyu Zhibo Entertainment Investment Enterprise (Limited Partnership) for CNY 4 million on April 21, 2019. The consideration will be paid in cash. For the year ended December 31, 2018, Shenzhen Chuanbo Network Technology Co., Ltd. reported revenues of CNY 48.88 million, operating profit of CNY 7.39 million and net profit of CNY 6.38 million and had total assets of CNY 36.31 million and net assets of CNY 22.78 million as on December 31, 2018. The transaction was approved by the Board of Shenzhen Bingchuan Network Co.,Ltd. and doesn’t require shareholder approval. Shenzhen Bingchuan Network Co.,Ltd. (SZSE:300533) cancelled the acquisition of 16.25% stake in Shenzhen Chuanbo Network Technology Co., Ltd. from Xinyu Zhibo Entertainment Investment Enterprise (Limited Partnership) on April 21, 2020.