Hangzhou Dinglong Enterprise Management Co., Ltd. signed an agreement to acquire 5% stake in Huawei Culture Co., Ltd. (SZSE:002502) from Guo Xiangbin for approximately CNY 220 million on January 2, 2019. Under the transaction, Hangzhou Dinglong Enterprise Management Co., Ltd. acquires 43 million shares at CNY 5.16 per share. Payment will be done within 5 days since signing of the agreement. Post transfer, Guo Xiangbin will hold 131.7 million shares representing 15.31% stake.