Henan Splendor Science & Technology Co., Ltd. (SZSE:002296) agreed to acquire remaining 49.13% stake in Beijing Guotie Luyan Technology Co., Ltd. from Liu Baoli for CNY 150 million on January 7, 2014. As part of the consideration, Henan Splendor Science & Technology Co., Ltd. must pay 30% of the acquisition price which is CNY 45.41 million within 10 working days from the end of the stockholders' meeting and Henan Splendor Science & Technology Co., Ltd. must pay 70% of the acquisition price which is CNY 105.95 million within 2 months from the end of the stockholders' meeting. Henan Splendor Science & Technology Co will use its internal funds of CNY 151.36 million for the transaction.

Post closing, Henan Splendor Science & Technology will hold 100% stake in Beijing Guotie Luyan Technology Co., Ltd. As of September 2013, Beijing Guotie Luyan Technology Co., Ltd. reported total assets of CNY 213.41 million, total liabilities of CNY 118.6 million and net assets of CNY 94.81 million. Henan Splendor Science & Technology Co., Ltd's Directorate approved the transaction. The transaction has been approved by shareholders of Henan Splendor Science & Technology Co., Ltd. January 24, 2014.