Tranche Update on Jiangsu Asia-Pacific Light Alloy Technology Co., Ltd.'s Equity Buyback Plan announced on May 7, 2022.

Jiangsu Asia-Pacific Light Alloy Technology Co., Ltd. is a China-based company principally engaged in the research and development, production and distribution of automobile aluminum extrusion products and other industrial extrusion products, and the provision of related services. The Company mainly provides automobile precise aluminum pipes, special purpose structural sections, bars and others, including air conditioning pipes, water tank pipes, composite pipes, coils, profiles, bars and aluminum profiles for brake systems, among others. The Company's products are mainly applied in automobile heat exchange systems and chassis systems, suspension systems, braking systems, as well as commercial air conditioners and communication equipment and others. The Company distributes its products in domestic and overseas markets.