Top Group plans to acquire Wuhu Changpeng to further consolidate its position in the automotive parts industry

Top Group announced that its board of directors has approved the management to acquire all the shares of Wuhu Changpeng Auto Parts Co., Ltd. for no more than RMB 330 million in cash. After the acquisition, Wuhu Changpeng will become a wholly-owned subsidiary of Top Group. Wuhu Changpeng is a national "little giant" enterprise focusing on the automobile manufacturing industry. Its products include the overall interior and exterior soft and interior decoration of automobile engine compartments, passenger compartments, cockpits, and luggage compartments, as well as NVH design solutions and OEM production support.