In order to meet the needs of the company's overseas business development, expand the North American market, quickly respond to the needs of local customers and achieve rapid product delivery, the company held the 18th Meeting of the Third Board of Directors on January 12. Deliberated and passed the "Proposal on the Company's Investment in Hong Kong to Establish of a Subsidiary and Grandson Company", the "Proposal on the Company's Investment in the United States to Establish a Grandson Company" and the "Proposal on the Company's Investment in Mexico to Establish a Grandson Company”. 

For this time, the company plans to invest in the construction of production bases in Mexico, and the total investment is expected to be no more than 300 million RMB. This overseas investment will help the company grasp the development trend in the international field of the automotive industry and meet the needs of customers, improve the company's dominant position in international competition, enhance the company's comprehensive competitiveness, and also fit the company's vision of internationalization.