 On December 18, 2019, Greenland Technologies Holding Corporation Nasdaq: GTEC Greenland and Goog Intelligent Machinery Changxing Co., Ltd. Goog, a technology service and product provider in China, entered into a non-binding Memorandum of Understanding MOU. Under the terms of the MOU, Greenland or its affiliates will acquire up to 75 ownership of Goog. Greenland will pay Googs shareholders their original paid-in capital with cash and a 20 premium with newly issued shares of Greenland. Greenland will conduct due diligence on Goog regarding its financials, operating results, technology, and intellectual property. The transaction is subject to the approval by the Boards of Directors of Greenland and Goog. 