Suzhou Tianmai announced that the company previously disclosed that it plans to introduce other investors from Intercooling Technology to carry out share transfers and capital increases. As a result of this development, Hainan Siyang, a wholly-owned subsidiary of the company, and Zhongleng Technology, a holding company, have recently signed an “Equity Transfer and Capital Increase and Share Expansion Agreement” with all parties involved in the transaction. Zhang Haojiong plans to transfer 2% of the shares in Intercooling Technology jointly held by Chengdu China Test for RMB 11.8 million; Zhang Haojiong, Wan Na, Tu Weichao, and Huai'an Xinheyufeng plan to subscribe for an additional registered capital of RMB 222,000 for a total of RMB 664.89 million. The overall valuation of China Cooling Technology's 100% equity is 599 million yuan. After the transaction was completed, the company indirectly held 51.0126% of COOLING Technology's shares, and still included Hainan Siyang and COLING Technology in the scope of the consolidated statement. The agreement was signed and sealed by all parties, and takes effect on the date the relevant matters and amendments to the articles of association are reviewed and approved by the shareholders' meeting or board of directors of China Cold Technology.

Suzhou Tianmai announced that the company previously disclosed that it plans to introduce other investors from Intercooling Technology to carry out share transfers and capital increases. As a result of this development, Hainan Siyang, a wholly-owned subsidiary of the company, and Zhongleng Technology, a holding company, have recently signed an “Equity Transfer and Capital Increase and Share Expansion Agreement” with all parties involved in the transaction. Zhang Haojiong plans to transfer 2% of the shares in Intercooling Technology jointly held by Chengdu China Test for RMB 11.8 million; Zhang Haojiong, Wan Na, Tu Weichao, and Huai'an Xinheyufeng plan to subscribe for an additional registered capital of RMB 222,000 for a total of RMB 664.89 million. The overall valuation of China Cooling Technology's 100% equity is 599 million yuan. After the transaction was completed, the company indirectly held 51.0126% of COOLING Technology's shares, and still included Hainan Siyang and COLING Technology in the scope of the consolidated statement. The agreement was signed and sealed by all parties, and takes effect on the date the relevant matters and amendments to the articles of association are reviewed and approved by the shareholders' meeting or board of directors of China Cold Technology.