Chen Zhu signed share transfer agreement to acquire 5.46% stake in Goldlok Holdings(Guangdong) Co.,Ltd. from Puning XinHonghui Industrial Investment Co., Ltd. for approximately CNY 110 million.

Goldlok Holdings Guangdong Co Ltd, formerly Goldlok Toys Holdings Guangdong Co Ltd, is a China-based company mainly engaged in the research, development, production and sales of electronic and electric plastic toys. The Company is engaged in two businesses. Toys and related businesses cover a complete industrial system of research, development, design, mold manufacturing, production and sales. The main product cover electronic electric toys, plastic toys, plush toys, educational toys, and intelligent interactive toys. The Internet education business is engaged in providing comprehensive solutions for smart education starting from kindergarten to grade 12 (K12). The core technical support of the business includes cloud computing, big data, intelligent hardware, Internet of Things, artificial intelligence and other fields.