In order to improve the performance and quality of products and ensure the supply of castings, Rifa Precision Machinery will establish a joint venture subsidiary Xinzhou Rifa Heavy Machinery Co., Ltd. in Xinzhou, Shanxi with Kofia Heavy Equipment Co., Ltd., which will be acquired by the newly established Xinzhou Rifa All operational assets owned by Shanxi Zhongya, including factory buildings, land use rights, equipment, etc.

         Through this acquisition, the company will strengthen its quality control, ensure the matching capabilities and quality of castings, gain stronger competitive advantages and a larger market share, and play an inestimable role in enhancing the company's overall competitiveness.