Shanghai Fukong Culture Media Co., Ltd. signed an equity transfer framework agreement to acquire 26.64% stake in Fukong Interactive Entertainment Co., Ltd. (SHSE:600634) from Yan Jinggang for CNY 3.3 billion on April 6, 2017. Shanghai Fukong Culture Media Co., Ltd. will acquire 153.38 million shares at the price of CNY 21.28 per share. Yan Jinggang will transfer the shares in different batches with a formal supplementary agreement to the share transfer agreement to be signed during each transfer round. On April 13, 2017, Yan Jinggang and Shanghai Fukong Culture Media Co., Ltd. signed the first supplementary agreement agreeing for the first batch of 106.48 million shares to be transferred at a price of CNY 21.28 per share. On April 18, 2017, the first batch of share transfer was completed. After completion of the first batch transfer, Shanghai Fukong Culture Media Co., Ltd holds 106.48 million shares amounting to 18.5% stake of Fukong Interactive Entertainment Co., Ltd. On August 4, 2017, Yan Jinggang and Shanghai Fukong Culture Media signed the second supplementary agreement for the second and final batch of the share transfer. Shanghai Fukong Culture Media will acquire 46.9 million shares at CNY 21.28 per share representing 8.15% stake in the second batch. Upon completion of the second batch, Yan Jinggang will hold 31.83 million shares representing 5.5% stake. Shanghai Fukong Culture Media Co., Ltd. completed the acquisition of 26.64% stake in Fukong Interactive Entertainment Co., Ltd. (SHSE:600634) from Yan Jinggang on August 29, 2017.