Jilin Yadong State-Owned Capital Investment Co., Ltd. signed the share transfer agreement to acquire an additional 5% stake in Changchun FAWAY Automobile Components Co.,Ltd (SHSE:600742) from China FAW Group Corporation for approximately CNY 290 million on November 29, 2019. Jilin Yadong State-Owned Capital Investment Co., Ltd. will acquire 25.4 million shares at CNY 11.46 per share. Within 5 working days after the signing of this agreement, Jilin Yadong State-Owned Capital Investment Co., Ltd. shall pay China FAW Group Corporation a deposit of 30% of the transfer price, which will be automatically converted to the transfer price after the transfer of the shares has been approved by the parties having the right to review and approve. The remaining price shall be fully settled within 30 working days after the transfer of shares has been approved by the parties having the right to approve. Jilin Yadong State-Owned Capital Investment Co., Ltd. holds 58.6 million shares representing 11.55% stake. On completion, Jilin Yadong State-Owned Capital Investment Co., Ltd. will hold 84 million shares representing 16.55% stake and China FAW Group Corporation will hold 76.9 million shares representing 15.14% stake. As of December 29, 2019 Changchun FAWAY Automobile Components received a notice, on December 27, 2019, the State-owned Assets Supervision and Administration Commission of the State Council approved China FAW Group Corporation’s transfer and on December 18, 2019, State-owned Assets Supervision & Administration Commission of the People's Government of Jilin approved Jilin Yadong State-Owned Capital Investment Co., Ltd.’s acquisition. Jilin Yadong State-Owned Capital Investment Co., Ltd. completed the acquisition of additional 5% stake in Changchun FAWAY Automobile Components Co.,Ltd (SHSE:600742) from China FAW Group Corporation on December 31, 2019. The transaction received securities transfer registration confirmation issued by China Securities Depository and Clearing Corporation on January 2, 2020.