Li Shaojun, Li Ming, and Wang Jian signed the asset transfer agreement to acquire majority stakes in Shandong Xingyue Installation Engineering Co., Ltd., Beijing Qixing Kaichuang Three-Dimensional Parking Equipment Technology Consulting Co., Ltd., Qingdao Qixing Car Parking Co., Ltd. and car parking business from Northcom Group Co., Ltd. (SZSE:002359) for approximately CNY 210 million on June 16, 2017. Under the terms, Northcom Group Co., Ltd. will sell all its equity in the target companies and non-equity type assets and liabilities related to car parking business and Li Shaojun, Li Ming, and Wang Jian will acquire 100% stake in Shandong Xingyue Installation Engineering Co., Ltd., a 60% stake in Beijing Qixing Kaichuang Three-Dimensional Parking Equipment Technology Consulting Co., Ltd. and a 100% stake in Qingdao Qixing Car Parking Co., Ltd. as well as car parking business. After the transaction, Northcom Group Co., Ltd. will no longer own any stake in the target companies. The transaction is subject to the approval of the shareholders of Northcom Group Co., Ltd. and was approved by its Board of Directors in the 3rd session of 4th directorate on June 16, 2017. On June 30, 2017, the transaction was approved by the shareholders of Northcom Group Co., Ltd. The transaction is expected to complete at the end of October 2017. As of November 1, 2017, the transaction was postponed and is now expected to close before December 31, 2017. Li Shaojun, Li Ming, and Wang Jian completed the acquisition of majority stakes in Shandong Xingyue Installation Engineering Co., Ltd., Beijing Qixing Kaichuang Three-Dimensional Parking Equipment Technology Consulting Co., Ltd., Qingdao Qixing Car Parking Co., Ltd. and car parking business from Northcom Group Co., Ltd. (SZSE:002359) on December 21, 2017.