Shengbang Group: Intends to acquire 60% equity of Wuxi Woke Engine Noise Reduction Parts Co., Ltd. in cash.

Shengbang Co., Ltd. announced that the company has signed a framework agreement with WOCO.F.J.Wolf Holding GmbH regarding the acquisition of 60% equity of Wuxi Woco Engine Noise Reduction Parts Co., Ltd. in cash. This transaction is expected to constitute a major asset restructuring as stipulated in the "Administrative Measures for Major Asset Restructuring of Listed Companies". The transaction is still in the planning stage, and the final transaction price and specific terms of the transaction need further verification and negotiation. The final acquisition agreement signed by all parties shall prevail.