Tranche Update on Xinxing Ductile Iron Pipes Co., Ltd.'s Equity Buyback Plan announced on December 31, 2019.

From December 30, 2019 to December 31, 2019, the company has repurchased 8,825,736 shares, representing 0.22% for CNY 36.67 million. With this, the company has completed the repurchase of 8,825,736 shares, representing 0.22% for CNY 36.67 million under the buyback announced on December 31, 2019.