Nanjing Yingmanji Culture Media Co., Ltd. entered into an agreement to acquire 47.28% stake in Jiangsu Sina Internet Information Service Co., Ltd. from Dahe Media Co., Ltd. (SEHK:8243) for CNY 3.9 million on October 12, 2017. Nanjing Yingmanji Culture Media Co., Ltd. shall pay 30% of the consideration amounting to CNY 1.16 million within five working days upon signing of the agreement, 30% of the consideration amounting to CNY 1.16 million within five working days upon completion of procedures for change of equity holder prescribed by relevant government bureau and the remaining 40% of the consideration amounting to CNY 1.54 million by November 30, 2017. Nanjing Yingmanji Culture Media Co., Ltd. shall pay the consideration via bank remittance and shall settle all dealing payments by November 30, 2017. After completion of the transaction, Jiangsu Sina Internet Information Service Co., Ltd. will cease to be an associate of Dahe Media Co., Ltd. Jiangsu Sina Internet Information Service Co., Ltd. reported net loss of CNY 1.93 million during the year ending December 31, 2016. After entering into the agreement, parties to the agreement shall arrange for the change of the members of the board of Directors and the supervisory committee of Jiangsu Sina Internet Information Service Co., Ltd. and the amendments of the articles of association of Jiangsu Sina Internet Information Service Co., Ltd. Following the signing of the agreement by the Nanjing Yingmanji Culture Media Co., Ltd. and Dahe Media Co., Ltd, parties to the agreement will assist Jiangsu Sina Internet Information Service Co., Ltd. to apply for change of equity holder to relevant government bureau and is subject to the full payment of the consideration by Nanjing Yingmanji Culture Media Co., Ltd. The net proceeds from the disposal will be used for general working capital of Dahe Media Group. The disposal will result in gain of CNY 3.85 million. Nanjing Yingmanji Culture Media Co., Ltd. completed acquisition of 47.28% stake in Jiangsu Sina Internet Information Service Co., Ltd. from Dahe Media Co., Ltd. (SEHK:8243) during the year 2017.