Wang Jinzhou agreed to acquire 49% stake in Henan Tianji Tires Co., Ltd. from Zhejiang Tiantie Industry Co., Ltd. (SZSE:300587) for CNY 49 million on March 29, 2024. The consideration consists of CNY 49 million in cash. As part of the consideration, CNY 49 million was paid towards Unknown.

As of November 30, 2023, Zhejiang Tiantie Industry Co., Ltd reported total assets of CNY 52.1 million, and net assets of CNY 1.79 million. The deal has been approved by board of directors of Zhejiang Tiantie Industry Co., Ltd.