Boweitong (Xiamen) Technology Co., Ltd. agreed to acquire 30% stake in Bravo Communication System (Shenzhen) Co., Ltd. from Boomsense Technology Co.,Ltd. (SZSE:300312) for CNY 53.6 million on June 9, 2017. In a related transaction, Boweitong (Xiamen) Technology Co., Ltd. agreed to acquire 30% in Bravo Tech (Shenzhen) Co., Ltd. from Boomsense Technology Co.,Ltd. (SZSE:300312) for CNY 20.8 million for June 9, 2017. Bravo Communication System (Shenzhen) Co., Ltd. had total assets of CNY 53.36 million, net liabilities of CNY 39.07 million, revenue of CNY2.25 million and net loss of CNY 15.96 million as on December 31, 2016. The transaction is subject to approval by the shareholders of Boomsense Technology Co.,Ltd. The transaction has been approved by the Board of Directors of Boomsense Technology Co.,Ltd. in the 8th meeting of the 3rd directorate and 7th meeting of the 3rd supervisory board held on June 9, 2017. Boomsense Technology Co.,Ltd. will use proceeds from the transactions to carry out capital increase in Boweitong (Xiamen) Technology Co., Ltd. Boweitong (Xiamen) Technology Co., Ltd. cancelled the acquisition of 30% stake in Bravo Communication System (Shenzhen) Co., Ltd. from Boomsense Technology Co.,Ltd. (SZSE:300312) on June 9, 2018.