The Company intends to invest RMB 840 million to establish a wholly-owned subsidiary, Aeolus Tyre (Hainan) Co., Ltd. (hereinafter referred to as “Aeolus Hainan”, the final name shall be subject to the approval and registration of the relevant government authorities). After the establishment of Aeolus Hainan, it will introduce investors through capital increase and share expansion. As the potential

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