Beijing Jiexun Baihui Trade Co., Ltd. entered into a share transfer agreement to acquire 19% stake in Taicang Piaiyou Gaming Network Technology Co., Ltd. from Shanghai U9 Game Co.,Ltd. (SHSE:600652) for nil consideration on December 27, 2019. Taicang Piaiyou Gaming Network reported total assets of CNY 24.9 million, revenue of CNY 38.1 million, net loss of CNY 9.6 million and net liabilities of CNY 10.3 million as of December 31, 2018. The transaction was approved by the Board of Shanghai U9 Game Co.,Ltd. Beijing Jiexun Baihui Trade Co., Ltd. cancelled the acquisition of19% stake in Taicang Piaiyou Gaming Network Technology Co., Ltd. from Shanghai U9 Game Co.,Ltd. (SHSE:600652) on December 27, 2020.