The recent investment strategy of acoustics

Audio 7 November 2016 tenth session of the board of directors to convene the eighteenth meeting, the meeting examined and unanimously adopted the following resolution:

First, consider the motion through "on the company's assets subscribe Shanghai Huaxin Limited by Share Ltd issued shares related matters connected transaction";

The Board agreed to hold a 24% stake in the China Fortune Securities Co for the Shanghai Huaxin Limited by Share Ltd (hereinafter referred to as "Huaxin shares) of non-public offering of A shares, and legal documents signed into conditional" agreement "to issue shares to buy assets with Huaxin shares.

Two, passed "on the transfer of Guizhou Shen Anpan South Investment Co., Ltd. 90% stake in the motion"; the board of directors of the Licensing companies management team to not less than the appraised Guizhou Shen Anpan rights South investment limited the overall value of the corresponding share price of 151 million 877 thousand and 300 yuan, to public listing the way to sell the Beijing Shenan Investment Group Corporation Limited Guizhou Shen Anpan South Investment Co., Ltd. 90% stake, the relevant procedures and signed the relevant agreement for the transfer and transfer process.

Three, approved "on the company's subsidiary company set up a wholly-owned subsidiary in Hungary's motion"; the board of directors agreed to the company's subsidiary xiwannian group, a wholly owned subsidiary of Flowil International Lighting (Holding) B.V. invested 3000000 forint set up wholly owned subsidiary in Hungary, and the Licensing companies management team in accordance with the corporate governance structure to sign relevant documents and go through the relevant formalities.

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