United Electronics Co., Ltd. (SZSE:002642) signed the equity purchase agreement to acquire Xi'an Smartcloud Information Technology Co., Ltd. from Sun Rui, Wang Xiaoyan, Zhao Lei, Li Xuning, Ji Xianzhong, and Niu Yonggang for CNY 21.8 million on December 13, 2013. United Electronics Co., Ltd shall pay the first installment of equity transfer price amounting to CNY 9.8 million within ten working days from contract signing date and completion date of preparation of documents related to change in business registration for the equity transfer. United Electronics Co., Ltd shall pay the second installment of equity transfer price amounting to CNY 12 million within ten working days from completion of change in business registration with the Administrative Bureau for Industry and Commerce for the equity transfer.

Board of Directors of United Electronics Co., Ltd. approved the transaction on December 13, 2013. Sun Rui, Wang Xiaoyan, Zhao Lei, Li Xuning, Ji Xianzhong, and Niu Yonggang will use the balance of equity transfer price amounting to CNY 11.64 million to acquire publicly offered shares of United Electronics Co., Ltd. On January 2, 2014, the company paid its first installment of equity transfer price amounting to CNY 9.8 million to its transferor.

United Electronics Co., Ltd. (SZSE:002642) completed the acquisition of Xi'an Smartcloud Information Technology Co., Ltd. from Sun Rui, Wang Xiaoyan, Zhao Lei, Li Xuning, Ji Xianzhong, and Niu Yonggang on January 6, 2014. Xi'an Smartcloud Information Technology wholly owned subsidiary of Xi'an Smartcloud Information Technology. On January 15, 2014, United Electronics Co., Ltd. paid the second installment of equity transfer price amounting to CNY 12 million to its transferor.