Date: 2013-07-31

Jinxi Axle Company Will Acquire 100% Shares of North Forging Company

Jinxi Axle Company Will Acquire 100% Shares of North Forging Company

Jinxi Axle Company Limited, a leading train axle manufacturer in China, announced that the company will acquire 100% shares of North Forging Company - a subsidiary of Inner Mongolia North Heavy Industries Group Corp. Ltd at the end of this year.

According the report, Jinxi Axle Company Limited would issue 25 million shares to 38 million shares of its common stock through private placement to up to ten institutional investors. Each share would be issued at a par value of RMB 1 per share and at a price of not less than RMB 22.18 per share. Inner Mongolia North Heavy Industries Group Corp. Ltd and Jinxi Machinery Industries Group Co., Ltd (the Company

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