Huangshi Sait and Zhengzhou Baiyun have merged their assets, forging a powerful alliance.

　　At 9:00 a.m. on July 13, 2019, Huangshi Saifu Friction Materials Co., Ltd., Zhengzhou Baiyun Industrial Co., Ltd., and Huangshi Saite Friction Materials Co., Ltd. formally entered into a joint asset restructuring agreement. As the controlling shareholder of Saite Friction Materials Co., Ltd., Saifu Friction Materials Co., Ltd. has, in order to support Saite’s rapid growth, introduced a new investor—Zhengzhou Baiyun Industrial Co., Ltd.—through a combination of partial equity transfers and additional investment, with the aim of strengthening and expanding the business, enhancing its competitiveness, and achieving optimal results.

　　Zhengzhou Baiyun Industrial Co., Ltd. is a group company specializing in the production of asbestos-free brake friction pads for automobiles and motorcycles, as well as in the manufacture of specialized equipment for producing such pads. In recent years, the company has experienced rapid growth and possesses strong capabilities in resource integration, with plans to invest in expanding its production and sales of brake friction pads.

　　Huangshi Saiter Friction Materials Co., Ltd. is a company that leverages European technology to specialize in the production of asbestos-free, non-metallic brake pads. With advanced brake pad manufacturing capabilities and a strong supporting market, the company urgently seeks funding to upgrade its equipment and technologies.

　　Through amicable consultations among the three parties, they have jointly invested in and managed Sait Friction Materials Co., Ltd., further enhancing its brand competitiveness, production capacity, and economic performance, thereby elevating its development to a new level.