[Rongsheng Development: proposed acquisition of 68.38% equity shares of Mengguli suspended trading]-- Rongsheng Development announced on May 28 that it intends to purchase 68.38% of Rongsheng Menggu New Energy Technology Co., Ltd. (hereinafter referred to as "Rongsheng Holdings") held by controlling shareholder Rongsheng Holdings Limited (hereinafter referred to as "Rongsheng Holdings") by issuing shares. Mengguli is mainly engaged in the R & D and industrialization of lithium-ion power batteries for new energy vehicles, lithium-ion batteries for energy storage and key materials for lithium-ion batteries. This acquisition will help the company to diversify. Trading in the company's shares will be suspended from the morning of Friday, May 26, 2023.