The Company held signature ceremony at Fushun

December 6, the signature ceremony between Shantui Investment Co., Ltd., Liaoning Hongsheng Industries Co., Ltd., and Fushun Shenfu Xincheng Management Committee was held at Fushun Economic Development Zone. Secretary of Fushun Municipal Committee of the CPC Mr. Liu Qiang, the Mayor Wang Guifen, Dean of the Standing Committee of Fushun Municipal People's Congress Meng Lingbin, Chairman of Fushun Municipal CPPCC Zhang Min, General Manager of Shandong Heavy Industry Jiang Kui, Vice Board Chairman Dong Ping, the President Zhang Xiuwen, etc. attended the ceremony.

Fushun Crane Manufacture Co., Ltd.(Fushun Crane) is a subsidiary of Liaoning Hongsheng Industry Group (Hongsheng Group). Specialized in the manufacturing of fire fighting truck and tire crane, the company is the manufacturer of fire engine with aerial platform, water tank fire engine, and aerial work platform designated by the state development and reform commission and the Ministry of Public security of the PRC. And it is also designated to provide military products for the navy, air force, the Second Artillery Force of the PLA, etc.

Hongsheng Group transfers 70% of the shares of Fushun Crane to Shantui so that the two parties can develop the fire engine business with complementary advantages and build a leading construction machinery manufacturing base in China, and lay a good foundation for the long-term strategic aim of both Shandong Heavy Industry Group and Shantui Construction Machinery Co., Ltd.