Tibet Yaowang Network Technology Co., Ltd signed an agreement to acquire additional 5.98% stake in BlueFocus Communication Group Co., Ltd. from Xu Zhiping, Chen Lianghua and Wu Tie for approximately CNY 930 million.

Tibet Yaowang Network Technology Co., Ltd signed an agreement to acquire additional 5.98% stake in BlueFocus Communication Group Co., Ltd. (SZSE:300058) from Xu Zhiping, Chen Lianghua and Wu Tie for approximately CNY 930 million on January 25, 2018. Under the terms, Tibet Yaowang Network Technology Co., Ltd will acquire 132.33 million shares at CNY 7 per share. Post-acquisition, Tibet Yaowang Network Technology Co., Ltd will own 189.7 million shares in the BlueFocus Communication Group Co., Ltd accounting for 8.6% of the BlueFocus Communication Group Co Ltd.’s total capital.