Sichuan Tourism Investment Group Co., Ltd. signed a stock transfer agreement to acquire an additional 12.4% stake in Simei Media Co.,Ltd. (SZSE:002712) from Zhu Mingqui for approximately CNY 800 million on October 8, 2020. Sichuan Tourism Investment Group Co., Ltd. completed the acquisition an additional 12.4% stake in Simei Media Co.,Ltd. (SZSE:002712) from Zhu Mingqui on October 19, 2020. As per terms, Sichuan Tourism Investment Group Co., Ltd. acquired approximately 71.96 million shares and increased its stake in Simei Media Co.,Ltd. from 17.61% to 29.99%. Upon completion, Zhu Mingqui reduced its stake in Simei Media Co.,Ltd. from 21.65% to 9.27%.