Tianrun Industrial Announces Acquisition of Shandong Altai Auto Parts Co., Ltd.

Tianrun Industrial Technology Co., Ltd. plans to invest RMB 135 million to acquire 100% of the equity of Jiangsu Dongxi Engine Parts Co., Ltd., Altai Metal Co., Ltd., Dongxi Machinery Co., Ltd. and Shandong Altai Auto Parts Co., Ltd. held by Han Huizhen. The two parties signed an equity transfer agreement on July 22. After the transaction is completed, Tianrun Industrial will hold 100% of the equity of Shandong Altai, and Shandong Altai will become a wholly-owned subsidiary of Tianrun Industrial.