According to a public announcement, the second meeting of the 13th board of directors of the company deliberated and passed the “Proposal on Investment in Private Equity Funds and Related Transactions”, and agreed that the company would jointly sign a “Partnership Agreement” with the associated companies Dazhong Transportation and Beijing Motion to fund the establishment of the Wuxi Luyao Venture Capital Partnership. The total amount of capital pledged by Wuxi Liyao was 201 million yuan, of which the company pledged 150 million yuan as a limited partner, with a pledge ratio of 74.6269%; public transportation pledged 50 million yuan, with a pledge ratio of 24.8756%; and Beijing Vibration pledged 1 million yuan as general partner and executive partner, with a pledge ratio of 0.4975%. The partnership will invest in strategic emerging information technology and other industries through equity. Since Volkswagen Transportation is an associated company of the company, this transaction constituted a related transaction, and the relevant directors avoided voting.

According to a public announcement, the second meeting of the 13th board of directors of the company deliberated and passed the “Proposal on Investment in Private Equity Funds and Related Transactions”, and agreed that the company would jointly sign a “Partnership Agreement” with the associated companies Dazhong Transportation and Beijing Motion to fund the establishment of the Wuxi Luyao Venture Capital Partnership. The total amount of capital pledged by Wuxi Liyao was 201 million yuan, of which the company pledged 150 million yuan as a limited partner, with a pledge ratio of 74.6269%; public transportation pledged 50 million yuan, with a pledge ratio of 24.8756%; and Beijing Vibration pledged 1 million yuan as general partner and executive partner, with a pledge ratio of 0.4975%. The partnership will invest in strategic emerging information technology and other industries through equity. Since Volkswagen Transportation is an associated company of the company, this transaction constituted a related transaction, and the relevant directors avoided voting.