Miao Lihui acquired 2.5% stake in Zhangjiagang City Guangda Machinery Forging Co., Ltd. from Chou Jinfeng on October 13, 2016. Chou Jinfeng transferred CNY 0.5 million worth of investment at the transfer price of CNY 2 for every CNY 1 registered capital. As of October 31, 2016, Zhangjiagang City Guangda Machinery Forging Co., Ltd. had total assets of CNY 1.61 billion. Shareholders of Zhangjiagang City Guangda Machinery Forging Co., Ltd approved the transaction on October 13, 2016. Miao Lihui completed the acquisition of 2.5% stake in Zhangjiagang City Guangda Machinery Forging Co., Ltd. from Chou Jinfeng on October 13, 2016.