Chigo HVAC Starts Operating Independently from Chigo Holding

Chigo Holding announced on April 1 that it has completed a change in investment policy and has sold 40% of shares of Guangdong Chigo Heating & Ventilation Equipment Co., Ltd. (GCHV). After the stock transaction, Jinheyi Investment Co., Ltd. (the actual controller was Zhangquan), Chigo Holding, Wang Feng, Ma Junxia, and Tong Zhijun held 55.4%, 30%, 8.4%, 4.0%, and 2.2% shares in Chigo HVAC respectively.