Beijing HualuBaina Film&Tv Co., Ltd. (SZSE:300291) agreed to acquire Glowing Inc from Liu Yi, Beijing Guangyun Cultural Center (Limited Partnership) and Jiaxing Dianzan Equity Investment Partnership (Limited Partnership) for CNY 180 million on February 2, 2021. Liu Yi, Beijing Guangyun Cultural Center (Limited Partnership) and Jiaxing Dianzan Equity Investment Partnership (Limited Partnership) will sell 72%, 20% and 8% stake respectively. Beijing HualuBaina Film&Tv Co., Ltd. will use its own funds to finance the transaction. For the year ended September 30, 2020, Glowing Inc reported Total assets of CNY 48.7 million, Equity of CNY 21.4 million, Revenues of CNY 42.2 million, operating profit of CNY 13.6 million and net income of CNY 11.6 million. Beijing HualuBaina Film&Tv Co., Ltd. fifteenth meeting of the fourth board of directors approved the transaction. The transaction does not need to be submitted to the shareholders meeting for review. Liu Yi, Beijing Guangyun Cultural Center (Limited Partnership) and Jiaxing Dianzan Equity Investment Partnership (Limited Partnership) promised that the net profit of Glowing Inc in 2021, 2022, and 2023 will be CNY 16 million, CNY 20 million and CNY 24 million respectively. Beijing HualuBaina Film&Tv Co., Ltd. (SZSE:300291) cancelled the acquisition of Glowing Inc from Liu Yi, Beijing Guangyun Cultural Center (Limited Partnership) and Jiaxing Dianzan Equity Investment Partnership (Limited Partnership) on October 22, 2021. On October 22, 2021, Beijing HualuBaina Film&Tv Co., Ltd. held the 25th Meeting of the 4th Directorate and approved terminating the acquisition of Beijing Guangyun Animation Culture Co., Ltd.?s 100% stake and the parties signed Cancellation Agreement.