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Iceberg Cold & Heat Technology Co., Ltd.

Iceberg Hot and Cold

Harmonious Iceberg, Soaring Dreams

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2. Report on the Acquisition of Equity in Dalian Bingshan Metal Technology Co., Ltd.

2017 Document No. 2 for the First Extraordinary General Meeting of the Year

Report on the Acquisition of Equity in Dalian Bingshan Metal Technology Co., Ltd.

Dear Shareholders:

To further expand the components business and enhance the casting product portfolio. , the Company intends to acquire the equity interest in Dalian Bingshan Metal Technology Co., Ltd. (“Bingshan Metal Technology”) held by Dalian Bingshan Group Co., Ltd. (“Bingshan Group”). 49% Equity.

I. Basic Plan for Equity Transfer

The company intends to 17,295 At a price of RMB 10,000, the equity interest in Bingshan Metal Technology held by Bingshan Group was transferred. 49% Equity.

The consideration for this equity transfer shall be paid in cash by the Company to Bingshan Group in accordance with the method agreed upon by both parties.

II. Basic Information on BingShan Metal Technology

Iceberg Metal Technology is A Sino-U.S. joint venture established with joint investment by Iceberg Group and Victaulic International (“Victaulic”), was founded in 2004 year 5 month 26 Day, The registered capital is 1,806.45 Ten thousand U.S. dollars. Bing Shan Metal Technology has an annual output of approximately castings and components. 38,000 tons, with main products including Victaulic pipeline system fittings, scroll compressor castings for Panasonic, as well as high-speed railway connectors, hydraulic valve bodies, and automotive engine components. These products are exported to countries such as the United States, the United Kingdom, Japan, and Australia. Bingshan Group holds Bingshan Metal Technology. 49% Equity: Vitale holds Iceberg Metal Technology 51% Equity.

2016 Year, Bingshan Metal Technology achieved operating revenue. 35,932 Ten thousand yuan, achieving net profit 6,629 Ten thousand yuan.

III. Basis for Determining the Equity Transfer Price

In connection with this equity transfer, Beijing Zhongqi Hua Asset Appraisal Co., Ltd. was engaged to conduct a comprehensive valuation of Bingshan Metal Technology as of the valuation base date. 2016 year 12 month 31 On that day, the book value of net assets was 29,327.23 RMB 10,000; the assessed net asset value (asset-based approach) is 35,296.10 Ten thousand yuan, the assessed appreciation rate is 20.35% . Based on the results of this assessment, it is determined that Bing Shan Group holds Bing Shan Metal Technology 49% The transfer price of the equity is 17,295 Ten thousand yuan.

IV. Sources of Funds for Equity Acquisition

The Company will fund this equity transfer using its own capital.

V. Impact of the Equity Transfer on the Company

Upon completion of this equity transfer, Bingshan Metal Technology will become an equity-method affiliate of the Company.

Through this equity integration, the company’s castings product chain will be further refined, significantly enhancing the competitive edge of its castings products. This will enable the company to better meet the demand for precision castings from its partners, joint ventures, and third parties, while also boosting the company’s investment returns.

Please review the above report.

2017 year 3 month 7 day