Zhuzhou CRRC Times Electric

Zhuzhou CRRC Times Electric and FAW Equity Investment will jointly establish a 500 million yuan joint venture (50% each) to develop, manufacture and sell electric drive systems for new energy vehicles, supplying FAW's NEV products.

Zhuzhou CRRC Times Electric and FAW Equity Investment will set up a joint venture with registered capital of CNY 500 million, each contributing 50%, to develop, manufacture and sell electric drive systems for FAW's new energy vehicles.

Zhuzhou CRRC Times Electric completed the acquisition of the remaining 25% shares in Dynex Power Inc. for CAD 13.1 million, making Dynex Power a wholly-owned subsidiary.

Dynex Power Inc. announced a privatization transaction where controlling shareholder Zhuzhou CRRC Times Electric Co., Ltd. will acquire all common shares it does not already own for $0.65 per share in cash. CRRC Times Electric currently holds approximately 75% of Dynex shares.