Hubei Changjiang No. 1 Industrial Investment Partnership Enterprise (Limited Partnership) entered into equity transfer agreement to acquire 18% stake in Aotecar New Energy Technology Co., Ltd. from Beijing Tianyou Investment Co., Ltd. and Jiangsu Tianyou Jingan Investment Co., Ltd. for CNY 2.1 billion.

Aotecar New Energy Technology Co., Ltd. is a China-based company principally engaged in the manufacture and sales of automotive air conditioning compressor and automotive air conditioning systems. The Company is also engaged in the production and distribution of women's apparels. The Company distributes its products within domestic market and to overseas markets.