Non-public stock offering of Sunward Intelligent Equipment Co., Ltd (SUNWARD, a Chinese company) and its oversea acquisition of 100% equity of Avmax Grou Inc. (Canada), supported by the lawyers’ team led by Ms. Wang Xiuhong and Mr. Qu Chengliang, of King & Capital Dalian Branch, has successfully been approved by China Securities Regulatory Commission, stated in No. [2017]922 License “Reply of Approval of SUNWARD for Non-public Stock Offering”, with no more than 298,475,415 new shares.

On September 21, 2017, SUNWARD has completed the non-public stock offering with total amount of RMB 1,978,891,999.70. The rest amount after deducting the fees of the offering has been used for oversea acquisition of 100% equity of Avmax Grou Inc. (Canada).