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Timken will finance the transaction through a combination of cash and existing committed loans.

President of SKF China and Northeast Asia Automotive Division, Mr Cu Hao, and General Manager of RuiPai Power Technology Company Limited, Mr Tang Xinhe, attended the signing ceremony of the strategic cooperation. Based on the principle of "deepening strategic co-operation and committing to win-win development", the two sides reached a high degree of consensus on deepening co-operation, jointly addressing market challenges and enhancing the competitiveness of both sides.

Timken, the global technology leader in engineered bearings and industrial drives, has been named one of America's Greatest Workplaces by Newsweek and one of the Best Companies to Work For by U.S. News & World Report. America's Greatest Workplaces" by U.S. News & World Report and "Best Companies to Work For" by U.S. News & World Report.

The much-anticipated 16th Annual Technical Conference on Automotive Powertrain Systems (TMC2024) was held on 4-5 July 2024 at the picturesque Qingdao Oriental Shadow Capital Conference Centre. As a globally renowned manufacturer of bearings and automotive components - NSK made a spectacular appearance with its innovative technical solutions for electric drive systems, injecting new vigour into the future development of the automotive industry.

Full of innovation breakthroughs in a series of records, are from the precision bearing digital intelligent workshop of Luoyang Bearing Research Institute Co.

SKF China and Northeast Asia President Wang Hui with SKF China management team, and Shanghai Electric, Wolong Group and other partner representatives gathered at the scene, talking about cutting-edge insights.

Due to the withdrawal of the listing application by Renben and its sponsor, according to the relevant provisions of Article 63 of the "Shanghai Stock Exchange Rules for Review and Examination of Stock Issues and Listings", the SSE terminated the review and approval of its issuance and listing.