Zhejiang Huace Film & TV Co., Ltd. (SZSE:300133) agreed to acquire 35% stake in Xi'an JY Entertainment from Li Jun and three other existing individual shareholders for CNY 90 million on May 31, 2011. The transaction will funded from the initial public offering of 14.12 million common A shares to raise CNY 960.16 million. After the acquisition, Zhejiang Huace will inject CNY 50 million into JY Entertainment, which will bring its holding in Xi'an JY to 55%. Xi'an JY Entertainment had net profits of CNY 9.99 million in 2010. Zhejiang Huace's Board of Directors approved the acquisition on May 31, 2011. As of June 30, 2012, Zhejiang Huace has already paid CNY 117.5 million.

Zhejiang Huace Film & TV Co., Ltd. (SZSE:300133) cancelled the acquisition of 35% stake in Xi'an JY Entertainment from Li Jun and three other existing individual shareholders on January 11, 2013.