CSG Smart Science and Technology Co., Ltd. agreed to acquire remaining 26.7% stake in CSG Smart Science & Technology Co., Ltd. Hefei from Yang Fujin for free on December 3, 2015. After the completion of the acquisition, CSG Smart Science & Technology Co., Ltd. Hefei will become a wholly-owned subsidiary of CSG Smart Science and Technology Co., Ltd. CSG Smart Science & Technology Co., Ltd. Hefei reported total assets of CNY 41.63 million, net liabilities of CNY 1.85 million, revenues of CNY 29.02 million and net loss of CNY 8.32 million for the year ending December 31, 2014. The acquisition is subject to approval of Ministry of Commerce and the approval of Department of Trade and Industry.

CSG Smart Science and Technology Co., Ltd. completed the acquisition of remaining 26.7% stake in CSG Smart Science & Technology Co., Ltd. Hefei from Yang Fujin on January 1, 2016.