Henan Mingtai Al.Industrial Co.,Ltd. (SHSE:601677) signed an agreement to acquire 2.33% stake in Zhengzhou CRRC Sifang Rail Vehicle Co., Ltd. from Zhengzhou Investment Holdings Co., Ltd. for CNY 20.9 million on December 17, 2021. Zhengzhou CRRC Sifang reported total assets as CNY 1.4 billion and net assets as approximately CNY 580 million for the period end on September 30, 2021. Zhengzhou CRRC reported operating income as CNY 1.2 billion and net profit as CNY 25.6 million for the period end on December 31, 2020. This transaction has been reviewed and approved at the 29th meeting of the company's fifth board of directors and does not need to be submitted to the company's shareholders meeting for deliberation.