Announcement of the completion of capital reduction change registration on behalf of major subsidiary Federal Tire (Jiangxi) Co.,Ltd.

 Announcement of the completion of capital reduction
change registration on behalf of major subsidiary
Federal Tire (Jiangxi) Co.,Ltd.

1.Date of the competent authority��s approval of capital reduction:2022/01/07
2.Date of completion of capitalization change registration:2022/01/07
3.Effect on the financial statements (including any discrepancy between the
amount of paid-in capital and the no.of shares outstanding, and the effect
on net worth per share):
The paid-in capital before capital reduction was USD 67 million
The paid-in capital after capital reduction is USD 49 million
4.Plan for expected share replacement operations:NA
5.Estimated no.of listed common shares after capital reduction and new issue:
NA
6.Estimated no.of listed common shares as a percentage of issued common
shares after capital reduction and new issue (No.of common shares after
capital reduction/No.of issued common shares):NA
7.Countermeasures for poor circulation of equity if the aforesaid estimated
no.of listed common shares does not reach 60 million shares and the
percentage does not reach 25% after capital reduction:NA
8.Any other matters that need to be specified:
The change of registration for this capital reduction is approved
by the competent authority.The Company received the letter of approval
 on 01 13,2022.