Jingzhou Hengfeng Brake System Co., Ltd. agreed to acquire 63.28% of Hubei Axle Co., Ltd. and 100% of Jingzhou Axle Co., Ltd from Steyr Motors Co., Ltd. (SZSE:000760) for approximately CNY 170 million on June 27, 2014. The transaction is subject to approval by China Securities Regulatory Commission. As of July 15, 2014, the transaction has been approved by shareholders of Steyr Motors Co., Ltd. The transaction has been approved by Board of Directors of Steyr Motors Co., Ltd.

Jingzhou Hengfeng Brake System Co., Ltd. completed the acquisition of 63.28% of Hubei Axle Co., Ltd. and 100% of Jingzhou Axle Co., Ltd from Steyr Motors Co., Ltd. (SZSE:000760) on July 15, 2015.