On the morning of October 10, Tianjin Lizhong Group Co., Ltd., a wholly-owned subsidiary of the Company, and the People's Government of Caidian District, Wuhan City jointly signed the Project Investment Agreement on the principle of mutual benefit and common development. According to the agreement, Lizhong Shares plans to invest in the construction of high-end aluminum alloy wheel project in Caidian District, Wuhan City, with a total investment of 600 million yuan.

Chen Xingai, the secretary of Caidian District Party Committee, said in his speech that Lizhong Group is a well-known private enterprise in China that focuses on research, development and manufacturing of casting aluminum alloys and aluminum alloy wheels for the automotive industry, and belongs to a strategic emerging industry. The project signed this time has a large investment scale, has a strong synergy effect in production, operation, technology and other aspects, and is highly consistent with the industrial chain of our district. We will continue to provide high-quality and efficient services for enterprise development, meet the needs of enterprise development, strive to create first-class conditions for enterprise development, fully promote the construction of projects, ensure the early commencement, early completion, early production and early results of signed projects, and ensure that every customer who comes to Caidian can invest, start businesses and develop with ease!

       Zang Liguo, the chairman of Sitong Xincai and the executive director of Lizhong Group, said that Caidian, with its unique regional advantages, is a car city in Wuhan and an important area for the Group's strategic layout and development in central China. We will provide excellent services to Dongfeng Honda, Renault and Wuhan customers, and make contributions to employment and economic development in Caidian District. As the investor of the project, we will make full investment and scientific planning to ensure that the project can be built well and quickly, so as to satisfy the government and customers.