Baota Industry announced that its wholly-owned subsidiary, Northwest Bearing Investment, has publicly tendered for the construction of the high-end precision bearing industrialized upgrade and transformation project of the super-large division/equipment company, forging and heat treatment workshop, and warehouse (Class C), after evaluation and public announcement, Ningxia Water Resources and Hydropower Engineering Bureau Co., Ltd. ('Ninggong Bureau') was determined as the winning bidder, with a bidding amount of CNY 34,859,600 including tax. Ninggong Bureau is a second-level wholly-owned subsidiary of Ningxia State-owned Capital Operation Group Co., Ltd., the controlling shareholder of the company, and is a related party, and this transaction constitutes a related party transaction.
宝塔实业：关联方宁工局中标子公司投资的高端精密轴承产业化升级改造项目
Baota Industry: The high-end precision bearing industrial upgrading and transformation project invested by a subsidiary of the related party Ninggong Bureau has won the bid.
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