Power New Technology: Court rules to accept the reorganization of SAIC Hongyan, a wholly-owned subsidiary.

On the evening of July 20, Power Corporation announced that on July 18, its wholly-owned subsidiary, SAIC Hongyan, received a civil ruling from the Chongqing Wuzhong Court accepting the reorganization application filed by Chongqing Anji Logistics against SAIC Hongyan. The follow-up reorganization of SAIC Hongyan has uncertainties, and its final impact on the company is uncertain, but it will not have a significant impact on the company's non-heavy truck business.