Zong Shen Power announced that the company plans to replace its assets and liabilities related to the motorcycle engine business with assets and liabilities related to the general machinery business held by Loncin GM. The price difference will be covered by cash, without involving the issuance of shares. This transaction constitutes a related transaction and is expected to constitute a major asset restructuring, and will not lead to changes in the controlling shareholders and actual controllers of the company. Currently, all parties to the transaction are proceeding with due diligence work on the subject matter in an orderly manner. The scope and price of the subject matter of the transaction have not yet been finalized, the two parties have not signed any agreement, the plan still needs to be verified, negotiated and carried out decision-making and approval procedures, and there is uncertainty about the transaction.

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