Tianjin Jiarui Huixin Corporate Management Co., Ltd. signed a sale and purchase agreement to acquire 8.61% stake in Leshi Internet Information & Technology Corp., Beijing (SZSE:300104) from Jia Yueting for CNY 6 billion on January 13, 2017. Under the terms of the agreement Tianjin Jiarui Huixin Corporate Management will acquire 170.7 million non-restricted outstanding shares of Leshi Internet Information & Technology Corp., Beijing at CNY 35.39 per share. Tianjin Jiarui Huixin Corporate Management Co., Ltd. shall pay all the consideration to Jia Yueting’s account within five business days of the entering into of the agreement, CNY 3 billion of which will be prioritized for the purposes of releasing the pledge created over the Leshi Internet Interest, and Tianjin Jiarui is entitled to supervise the use of such fund. Post-closing, Jia Yueting will hold 25.8% stake in Leshi Internet Information & Technology Corp., Beijing. In related transactions, Tianjin Jiarui Huixin Corporate Management Co., Ltd. agreed to acquire 15.71% stake in Leshi Zhixin Electronic Technology (Tianjin) Co., Ltd. from Xinle Asset Management (Tianjin) Partnership for CNY 2.7 billon on January 13, 2017. Tianjin Jiarui Huixin Corporate Management Co., Ltd. agreed to acquire 15% stake in Le Vision Pictures Co Ltd from Leshi Holding (Beijing) Co., Ltd. for CNY 1.1 billon on January 13, 2017. Tianjin Jiarui Huixin Corporate Management Co., Ltd. agreed to acquire 10% stake in Leshi Zhixin Electronic Technology (Tianjin) Co., Ltd. from Leshi Internet Information & Technology Corp., Beijing (SZSE:300104) for CNY 2.3 billon on January 13, 2017. The consideration payable by Tianjin Jiarui Huixin Corporate Management Co., Ltd. will be funded by the proceeds of loans which will in turn be funded by the internal resources of Sunac China Holdings Limited to Tianjin Jiarui Huixin Corporate Management Co., Ltd. directly or indirectly by way of loans. Within 30 days of completion of the transaction, Jia Yueting shall procure that the Board of Directors of Leshi Internet Information & Technology Corp., Beijing shall comprise five directors and Tianjin Jiarui shall be entitled to nominate one Non-Independent Director and one Independent Director to the Board of Directors of Leshi Internet. Jia Yueting undertakes to vote in favor of the Director nomination of Tianjin Jiarui Huixin Corporate Management Co., Ltd. Tianjin Jiarui Huixin Corporate Management Co., Ltd. shall be entitled to nominate one Finance Manager, right to appoint one supervisor to Leshi’s core companies under the cellphone segment, including Leshi Mobile Intelligent Information & Technology (Beijing) Co., Ltd. and Leshi Cellphone E-Commerce (Beijing) Company Limited and has the right to nominate one member for the Investment Decision-making Committee and one member for the Management Committee. Jia Yueting undertakes to and shall cause the directors nominated by him to vote for the resolutions on nominating members of the Investment Decision-making Committee and the Management Committee of Tianjin Jiarui. The transaction is subject to consummation of due diligence. The transaction is expected to close before January 26, 2017. Tianjin Jiarui Huixin Corporate Management Co., Ltd. completed the acquisition of 8.61% stake in Leshi Internet Information & Technology Corp., Beijing (SZSE:300104) from Jia Yueting on March 29, 2017.