Glory Flame Holdings Limited (SEHK:8059) enter into a memorandum of understanding to acquire Kepu Electronic Technology (ShenZhen) Co., Ltd. on January 22, 2016. Glory Flame shall complete the due diligence review within six months of the date of the agreement. If the parties do not enter into any formal agreement in respect of the proposed acquisition after the expiry of the due diligence period the agreement shall automatically terminate and no party shall have any obligation with respect to the other party.