Shandong Xingtan Network Technology Co., Ltd. signed a share transfer framework agreement to acquire 12.23% stake in Oriental Times Media Corporation (SZSE:002175) from Peng Peng on September 4, 2019. On September 9, 2019, the company received the share transfer framework agreement’s supplemental agreement signed on September 7, 2019 by Peng Peng and Shandong Xingtan. On September 9, 2019, the company received the share transfer framework agreement’s supplemental agreement signed on September 7, 2019 by Peng Peng and Shandong Xingtan.On October 21, 2019, Oriental Times Media received the report on equity change of Shandong Xingtan. Due to the stock pledge repurchase dispute between Peng Peng and Guolian Securities Co., Ltd., Peng Peng’s 34.32 million shares in Oriental Times Media were auctioned on the Ali auction platform by the Guilin Intermediate People’s Court of Guangxi, and on September 27, 2019, Shen Yuanyuan won the said shares. On October 11, 2019, Shen Yuanyuan completed the transfer for the said shares. After, Peng Peng’s shares in Oriental Times Media decreased to 57.85 million shares, accounting for 7.68% of Oriental Times Media’s total capital, and Shandong Xingtan’s voting rights was also reduced to 7.68%. Shandong Xingtan Network Technology Co., Ltd. cancelled the acquisition of 12.23% stake in Oriental Times Media Corporation (SZSE:002175) from Peng Peng effective March 30, 2021. On March 30, 2021, Oriental Times Media received the notice on the cancellation of the voting rights entrustment from Peng Peng, saying that Peng Peng already cancelled the share transfer agreement signed with Shandong Xingtan. In order to straighten out the company relationship and ensure the reform of the corporate governance structure, the voting rights entrustment has been lifted.