AA Industrial Belting (Shanghai) Co.,Ltd (SHSE:603580) signed the Equity Transfer Agreement to acquire remaining 25% stake in Suzhou Bode Industrial Control Equipment Manufacturing Co., Ltd. from Zhao Yuanling and Li Tianrong for CNY 1.3 million on October 31, 2021. Zhao Yuanling will transfer 18% equity of Suzhou Bode Company and Li Tianrong will transfer 7% equity in Suzhou Bode Company to AA Industrial Belting for a total of CNY 1.3 million. As of December 31, 2021, Suzhou Bode Company has completed the procedures of industrial and commercial change registration and obtained a renewed Business License.