Tranche Update on Jiangsu Changhai Composite Materials Co., Ltd's Equity Buyback Plan announced on August 8, 2018.

From October 1, 2018 to December 31, 2018, the company has repurchased 4,600,100 shares, representing 1.06% for CNY 39.92 million. With this, the company has completed the repurchase of 6,102,100 shares, representing 1.45% for CNY 55.5 million under the buyback announced on August 8, 2018.