Ningbo Smr Huaxiang Automotive Mirrors Ltd. agreed to acquire 60% stake in Nanchang JMCG Mekra Lang Vehicle Mirror Co., Ltd. from Jiangling Motors Corporation, Ltd. (SZSE:000550) for CNY 33.6 million on October 8, 2021. The consideration will be paid in cash. Post completion, Jiangling Motors Corporation Group will continue to retain its 40% stake in Nanchang JMCG Mekra Lang Vehicle Mirror Co., Ltd. For the year ending December 31, 2020, Nanchang JMCG reported a turnover of CNY 131 million. The transaction is expected to be closed within an estimated time period of 3 months and subject to customary closing conditions and regulatory approvals.