Chengdu Hi-tech Investment Group Co., Ltd. signed an intention agreement to acquire 5% in Sichuan Xunyou Network Technology Co., Ltd. (SZSE:300467) from Zhang Jianwei, Yuan Xu and Chen Jun on August 11, 2019. A formal share transfer agreement is yet to be signed. Chengdu Hi-tech Investment Group Co., Ltd. will itself or through a designated third party will acquire 11.2 million shares. Consideration will be decided in the formal agreement. State-owned assets approval will be required for the deal. Due diligence of Sichuan Xunyou Network Technology Co., Ltd. will be conducted. Chengdu Hi-tech Investment Group Co., Ltd. cancelled the acquisition of 5% in Sichuan Xunyou Network Technology Co., Ltd. (SZSE:300467) from Zhang Jianwei, Yuan Xu and Chen Jun on December 23, 2019. The parties failed to reach an agreement on the core terms of the transaction plan, the parties negotiated and decided to terminate the share transfer.