Henan Sanjia Auto Parts Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 50,000,000 on December 12, 2022. The transaction will involve participation from new investor, Xuchang Yuandong Drive Shaft Co.Ltd. for 60.98% stake. Post the closing, the registered capital of the company will increase from CNY 32,000,000 to CNY 82,000,000.

The transaction has been approved by the 14th meeting of the 5th board of directors and the 12th meeting of the 5th board of supervisors of the investor.