Kuancheng Shenghua Pressure Vessel Manufacturing

Beijing Tianhai Industrial, a subsidiary of Jingcheng Machinery, signed an agreement with Kuancheng Shenghua to establish Kuancheng Tianhai in Hebei province. Beijing Tianhai will contribute RMB 49.85 million in cash and technology for a 61.1% stake, while Kuancheng Shenghua contributes land and equipment for 38.9%.

Jingcheng Jidian's subsidiary Langfang Tianhai High-Pressure Container and Kuancheng Shenghua Pressure Vessel Manufacturing signed a strategic cooperation letter of intent on November 10, 2016, to form a joint venture named Kuancheng Tianhai High-Pressure Container, with Jingcheng Jidian holding 51-55% stake.