company, making the shares they held was increased from 15% to 34.60%. Zhengyuan Investment was majority (30%) owned by an indirect subsidiary (90% times 99.99% stake) of Beijing Beida Jade Bird () from 2008 until 2012. Beijing Beida Jade Bird itself was an indirect subsidiary of Peking University: Beijing Beida Jade Bird was 46% owned by , in turn Jade Bird Software was 48% owned by Peking University. Thus, if excluding minority interests, Peking University only owned about 5.96% indirectly on Tomorrow Technology. The ownership also made Beida Jade Bird Universal Sci-Tech () becoming the sister company of Tomorrow Technology, as they both controlled by Jade Bird Software, as well as making Cinda Real Estate () as related parties, as Zhengyuan Investment owned 6.56% shares as the third largest shareholder. Before Zhengyuan Investment acquired the shares of Tomorrow Technology, Xishui Strong Year () already a related parties of Tomorrow Technology, as Tomorrow Holding were the largest shareholders of both companies. In 2008 Zhengyuan Investment also acquired the shares of Xishui Strong Year (14.608%) from Tomorrow Holding. In June 2012 Tomorrow Holding acquired 36% stake of Zhengyuan from minority shareholders ( for 26% and for 10%) for , making Tomorrow Holding became the largest shareholder of Zhengyuan Investment for 36%. In turn, the acquisition made Tomorrow Holding the indirect major shareholder of Tomorrow Technology for 15%. Circa 2012 or 2013, Beijing Beida Jade Bird sold all their 30% stake on Zhengyuan Investment to parties other than Tomorrow Holding. Compared to 2008 disclosure, as at 31 December 2013, another shareholder of Zhengyuan Investment: Chongqing Kaitai Business Consulting () had increased its stake from 8% to 31%; three investors withdrew (Beijing Beida Jade Bird, and for a combined 62% stake) and the introduction of two new investors (Tomorrow Technology (36%) and (33%)). Baotou Beida Tomorrow Resources Technology The second largest shareholder of Tomorrow Technology was Baotou Beida Tomorrow Resources Technology for 3.43% stake, the parent company of Tomorrow Technology from 1997 to 1999. As at 31 December 2015, State-owned Assets Supervision and Administration Commission of Baotou Municipal People's Government owned 53% stake in Baotou Beida Tomorrow Resources Technology, with the rest owned by the company formerly known as Beijing Beida Tomorrow Resources Technology (now known as "Beijing Keyu Hengxin Technology"), a private company owned by Zhang Haixia () and Zhou Wuyun (). The chairman of Baotou Beida Tomorrow Resources Technology was Li Jingbo,