Date: 2013-07-31

XAB Practising Equity Division Reform

March 24, the new XAB(Xiangyang Automobile Bearing Co.,Ltd) had submitted their equity division reform program to the local State-owned Assets Supervision & Administration Commission for approval. From March 27, XAB's stock become in suspension in the Shenzheng Exchange to carry out their equity division.

So far, the reform program is still under approval.

This equity division reform was promised by TSB, when they signed the equity transfering contract with XAB. No detail of this equity division reform program was revealed.

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