Tranche Update on Ningbo PIA Automation Holding Corp.'s Equity Buyback Plan announced on August 31, 2023.

Ningbo PIA Automation Holding Corp is a China-based supplier mainly engaged in intelligent manufacturing equipment. The Company's main businesses are the research and development, production, sales and service of complete sets of customized assembly and inspection intelligent manufacturing equipment and digital software. The Company's main products include auto parts production lines, industrial electromechanical intelligent manufacturing lines, and consumer goods intelligent manufacturing lines. The Company's products are mainly used in the automotive industry, industrial electromechanical, consumer goods, medical and health and other fields. The Company mainly conducts business in the European and American markets and the domestic market.