This acquisition is another major cross-border M&A project in Hunan Province after Valin's acquisition of FMG, Zoomlion's merger with CIFA, and Sany's acquisition of Putzmeister. The signing amount of this acquisition agreement is approximately 290 million euros, and the total investment for completing the final acquisition is estimated at around 450 million US dollars.

　　It is understood that BOGE is the world's third-largest supplier of automotive vibration damping systems, mainly engaged in high-end automotive rubber damping parts and precision injection molded parts (automotive AVS). Its products are mainly used in chassis, powertrain systems, and commercial vehicles, and its main customers are world-renowned vehicle manufacturers.

　　According to the introduction, the signing of the master purchase agreement marks an important step for CSR Times New Materials' cross-border acquisition. Thereafter, the overall acquisition agreement will be submitted to relevant domestic and overseas regulatory authorities for approval, as well as to the shareholders' meetings of both parties for approval, and will only formally take effect after all procedures are completed.

　　Times New Materials was successfully listed on the Shanghai Stock Exchange in December 2002 and is one of China's earlier high-tech enterprises engaged in polymer materials research and engineering application promotion. After more than 20 years of development, its business has expanded into fields such as rail transit, new energy, automobiles, bridges, special equipment, and environmental protection. It has particularly strong capabilities in the rail transit rubber damping market, and its products are exported to countries and regions such as the United States, Canada, Europe, and Southeast Asia. In the 2012 global non-tire rubber products industry ranking newly released by the authoritative US industry magazine Rubber & Plastics News, CSR Times New Materials ranked 36th globally and first in China.