Suzhou Zhihua’s valuation is 398 million yuan

Tus International has been delisted from the Industrial Exchange through Suzhou Qiyizhi and entered into an equity transfer agreement with Suzhou Huaye on March 20, 2018. Suzhou Qiyizhi intends to acquire 4.2636% of Suzhou Zhihua's equity from Suzhou Huaye for RMB 17 million. According to Suzhou Huaye's equity transfer price, Suzhou Zhihua's current valuation is RMB 398 million. According to the financial statements, Suzhou Zhihua began to make a small profit last year. In 2016, the company's main business revenue was RMB 62.3587 million and a loss of RMB 12.1902 million. In 2017, the company's main business revenue was RMB 213 million, a year-on-year increase of 243.55%, and it achieved a profit of RMB 456,300 for the first time. Currently, Suzhou Zhihua’s main customers include commercial vehicle and passenger vehicle companies. Commercial vehicles include Yutong Bus, Ankai Bus, King Long Bus, Shaanxi Automobile Heavy Truck, etc., and passenger vehicles include GAC, BAIC Yinxiang, Changan Automobile, Nissan, Geely, Zotye, FAW, SAIC-GM-Wuling and many other automobile OEM manufacturers.