Changzhou Tenglong AutoPartsCo.,Ltd. agreed to acquire a 12% stake in Beijing Tenglong Tianyuan Rubber & Plastic Co., Ltd. from Liu Zhiyuan for CNY 71.1 million on May 18, 2022. For the year ended December 31, 2021, Beijing Tenglong had total assets of CNY 725.80 million, net assets of CNY 526.47 million, operating income of CNY 606.70 million and net profit of CNY 30.73 million.