The Bank of Silver Co., Ltd. purchased 20 million shares of Hubei Silver Wheel for a connected transaction


Panorama Network May 9 hearing Silver Bull today announced that the company plans to purchase 20 million yuan in Hubei Silver Wheel Machinery Co., Ltd. 100% stake, the acquisition is completed, will establish the company's production base in Hubei to lay the foundation to help The company has become a strategic partner of Dongfeng Motor Corporation to better serve Dongfeng Motor Corporation and at the same time it is also helpful in solving potential related party transactions.

Tiantai Yinlun Industry & Trade Development Co., Ltd., the controlling shareholder of Hubei Yinlun Machinery Co., Ltd., and Yinlun shares have the same controlling shareholder, namely Zhejiang Yinlun Industrial Development Co., Ltd. The acquisition constitutes a related party transaction and has been approved by the board of directors of the company. It is approved by the independent director.

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