Shanghai Zhenxi Enterprise Management Consulting Partnership Enterprise (Limited Partnership) won a bid to acquire 22.7% stake in Cloud Live Technology Group Co.,Ltd. (SZSE:002306) from Meng Kai on June 24, 2018. Under the terms, 181.6 million shares will be acquired. On July 5, 2018, Shanghai Zhenxi Enterprise Management Consulting Partnership Enterprise (Limited Partnership) completed the payment for the bid. Upon completion, Meng Kai will not hold any stake in Cloud Live Technology Group Co.,Ltd. On July 6, 2018, Guangdong Shenzhen Futian District People’s Court issued the execution ruling to unfreeze the said shares and to transfer to Shanghai Zhenxi Enterprise Management Consulting Partnership Enterprise (Limited Partnership)’s name. Shanghai Zhenxi Enterprise Management Consulting Partnership Enterprise (Limited Partnership) completed the acquisition of 22.7% stake in Cloud Live Technology Group Co.,Ltd. (SZSE:002306) from Meng Kai on July 13, 2018.