According to the Qichacha APP, recently, Weixian Xinou Sealing Co., Ltd. was established, with Zhang Yang as the legal representative and a registered capital of 3 million yuan. The business scope includes: manufacturing of sealing parts; remanufacturing of automotive parts; manufacturing of rubber products; manufacturing of plastic products. Qichacha's equity penetration shows that the company is wholly owned by TIANJIN PENGLING through indirect holdings