Mao Guangshu signed an equity transfer agreement to acquire 51% stake in Chengdu Bothwin Axle Co., Ltd from Hubei Bothwin Investment Co. Ltd. (SZSE: 000760) for CNY 5.6 million on June 30, 2010. Upon completion of the transaction, Hubei Bothwin Investment will no longer hold any stake in Chengdu Bothwin Axle. The transaction was approved by Board of Directors of Hubei Bothwin Investment approved the transaction on July 9, 2010 and the shareholders of Hubei Bothwin Investment approved the transaction on October 12, 2010. The related modification for industry and commerce for the equity transfer were completed by the end of 2010. Mao Guangshu cancelled the acquisition of 51% stake in Chengdu Bothwin Axle Co., Ltd from Hubei Bothwin Investment Co. Ltd. (SZSE: 000760) on February 4, 2012.