Jiangxi Huawu Brake (300095.SZ) plans to participate in the bidding for the reorganization investment rights and interests of Changsha Tianying and Guizhou Huawu.

Jiangxi Huawu Brake (300095.SZ) announced that the company plans to participate in the bidding for the reorganization investment rights and interests of Changsha Tianying Aviation Equipment Co., Ltd. (hereinafter referred to as "Changsha Tianying") and Guizhou Huawu Aviation Technology Co., Ltd. (hereinafter referred to as "Guizhou Huawu") at a total price of no more than RMB 60 million. Changsha Tianying and Guizhou Huawu were formerly subsidiaries within the scope of the company's consolidated financial statements. Due to Changsha Tianying and Guizhou Huawu entering bankruptcy reorganization proceedings and being taken over by the bankruptcy administrator Hunan Fangzhe Law Firm, the company no longer has control over Changsha Tianying and Guizhou Huawu, and Changsha Tianying and Guizhou Huawu are no longer included in the scope of the company's consolidated financial statements. The total appraised value of the auction subject matter is RMB 167,916,900, of which the appraised value of the reorganization investment rights and interests of Changsha Tianying is RMB 99,178,800, and the appraised value of the reorganization investment rights and interests of Guizhou Huawu is RMB 68,738,100; the starting prices are all set at the appraised values, and the final transaction price shall be subject to the bidding results. As of the disclosure date of this announcement, the first and second auctions of the reorganization investment rights and interests of Changsha Tianying and Guizhou Huawu have both failed to receive bids.