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On October 21, 2019, Hangzhou Zhongce Haichao Enterprise Management Co., Ltd. completed the acquisition of 46.95% equity of Zhongce Rubber Group Co.,Ltd.,

which involved the listed companies Hangzhou Great Star Technology Co., Ltd. (stock code: 002444) and Hangcha Group Co., Ltd. (stock code: 603298 ). On October 25, 2019, Shanghai Tongzhong Enterprise Management Co., Ltd. completed the acquisition of 10.16% equity of Zhongce Rubber Group Co., Ltd., which involved the listed company Tongcheng New Materials Group Co., Ltd. (stock code: 603650).

Zhongce Rubber Group Co., Ltd. was the target company of this acquisition, which involved the participation of multiple listed companies, as well as the change of the company's controlling shareholders and actual controllers.

Zhongce Rubber Group Co., Ltd. is a large enterprise integrating tire R & D, production, sales and automotive aftermarket service. The Products of Zhongce Rubber Group Co., Ltd. have covered passenger car tires, commercial car tires, truck tires, engineering tires,  industrial and agricultural vehicle-specific tires, two-wheeled tires, rubber tracks, carbon black and other series. The company owns famous tire brands such as CHAO YANG, WEST LAKE, GOODRIDE, TRAZANO, YARTU and ARISUN.

In this transaction, Guantao served as legal advisor to Zhongce Rubber Group Co., Ltd. and provided comprehensive legal services. The Guantao team for this transaction was led by Sun Dongying and Li Yan, and the team members included Fang Mingda and Ye Linmei.