Songzhi Corporation: Intends to acquire a 50% stake in Jinlong Air Conditioning for 95.2 million yuan.

Matsuda Corporation announced that the company plans to use its own funds of 95.2 million yuan to purchase 50% of the equity of Xiamen Jinlong Automobile Air Conditioning Co., Ltd. from Yongrun Trading. Jinlong Air Conditioning specializes in the research and development, production, and sales of heat management products for large and medium-sized buses. It is a designated supplier of heat management products for large and medium-sized buses of Xiamen Jinlong United Automobile Industry Co., Ltd. After the completion of this equity acquisition, the company will hold 50% of Jinlong Air Conditioning's equity, which will help establish a more solid cooperative relationship with core strategic clients, further strengthen and enhance the company's position and market competitiveness in the industry of heat management for large and medium-sized buses.