GOME Electrical Appliances Holding Limited (SEHK:493) agreed to acquire 60% stake in Meixin Network Technology Company from Beijing Dakang International Shoes City Company Limited, Beijing Eagle Investment Co., Ltd, Tianjin GOME Internet Assets Exchange Centre Company Limited and Duobian Jinbao Commercial Company Limited for CNY 900 million on January 23, 2017. Meixin Network Technology Company reported loss after tax of CNY 97.3 million and net liabilities of CNY 229.5 million for the year ended December 31, 2016. The transaction is subject to the transactional documents becoming effective, resolution by shareholders of Meixin Network Technology Company and Meixin Network having completed all internal approvals. Moore Stephens Da Hua acted as an accountant to GOME Electrical Appliances Holding Limited and Beijing Lixin Donghua Assets Appraisal Co., Ltd. acted as an independent valuer in the transaction.