Tranche Update on Zhejiang RIFA Precision Machinery Co., Ltd.'s Equity Buyback Plan announced on November 28, 2018.

From November 27, 2018 to December 31, 2018, the company has repurchased 12,371,538 shares, representing 2.23% for CNY 89.7 million. With this, the company has completed the repurchase of 12,371,538 shares, representing 2.23% for CNY 89.7 million under the buyback announced on November 28, 2018.