Wolong Acquires Midea Motor

According to the Wolong bulletin released on October 15, Midea Group, Midea International, and Hong Kong Wolong Holding Group (wholly owned subsidiary of Wolong Electric Group) signed equity transfer agreement on that day, allowing Midea Group and Midea International to respectively transfer 75% and 25% of its share of Qingjiang Electric Motor to Hong Kong Wolong.