Dongyang Juwen Film and Television Culture Investment Co., Ltd. and Dongyang Financial Holdings Co., Ltd. signed a share transfer intent agreement to acquire a 7.49% stake in Zhejiang Talent Television and Film Co., Ltd. (SZSE:300426) from Wu Hongliang on May 6, 2020. As of June 1, 2020, Dongyang Juwen Film and Television Culture Investment Co., Ltd. signed a share transfer agreement to acquire 5% stake in Zhejiang Talent Television and Film Co., Ltd. from Wu Hongliang, Zhao Jian, Chen Rong, and Li Zhao for CNY 99.3 million. As part of the consideration, Dongyang Juwen Film and Television Culture Investment Co., Ltd. will pay CNY 4.74 per share to acquire 20.9 million shares. As part of the acquisition, Wu Hongliang will transfer 4.08% stake, Zhao Jian will transfer 0.48% stake, Chen Rong will transfer 0.24% stake, and Li Zhao will transfer 0.21% stake. Under the terms, Wu Hongliang, Dongyang Financial Holdings and Dongyang Juwen Film and Television will form a new entity to act as buyer. Wu Hongliang, Dongyang Financial Holdings and Dongyang Juwen Film and Television own 17.5%, 63.75% and 18.75% stake in the buyer respectively. Wu Hongliang will transfer 38.03 million shares in Zhejiang Talent Television and Film, representing a 9.08% stake to the buyer entity so formed. Wu Hongliang will also entrust his voting rights in Zhejiang Talent Television and Film, totaling 20.82%, to the buyer entity. Buyer entity will thus hold 29.89% votes in Zhejiang Talent Television and Film. As on August 21, 2020, Dongyang State-owned Enterprises Major Matters approval and Zhejiang State-Owned Cultural Assets Management Commission was received by Dongyang Juwen Film and Television Culture Investment Co ltd. and Dongyang Financial Holdings Co.