August 5, 2012, Tianneng Battery Group Co., Ltd and Anhui Zhongneng Power Supply Co., Ltd. signed acquisition agreement under which Tianneng Battery Group acquired 70% stake interest of Anhui Zhongneng Power Supply with RMB 4.7 million. August 26, 2012, Tianneng Battery Group and Jiyuan City Wanyang Green Energy Co., Ltd. signed acquisition agreement under which Tianneng Battery Group acquired 51% stake interest of Wanyang Green Energy with RMB 5.625 million.

As one of the wholly-owned subsidiaries of Tianneng group, Tiannneng Battery Group is a leading supplier of motive batteries for electric vehicles in China, principally engaged in research, production and sale of new energy green power batteries, wind energy, solar energy storage batteries and standby power for communication.

Jingtian & Gongcheng acted as the acquirer’s lawyer in the acquisition.