We are excited to share an important milestone in WBTL's growth journey.

WBTL has officially become the controlling shareholder of Yubei Steering, marking the beginning of a new chapter for both companies and an important step forward in our chassis business strategy.

As the automotive industry continues to move toward electrification, intelligence, and greater system integration, customers are looking for partners that can deliver more complete and better coordinated chassis solutions. Bringing braking and steering capabilities closer together is an important part of that future.

WBTL has built strong capabilities across braking, steering, suspension, intelligent driving, and lightweight components, with integrated strengths spanning R&D, validation, manufacturing, and delivery. Yubei Steering brings deep expertise in steering systems, strong manufacturing foundations, valuable customer resources, and solid supply chain capabilities.

Together, we see significant opportunities to create greater value through closer collaboration in technology development, manufacturing, market expansion, and supply chain coordination. More importantly, this combination strengthens our ability to support the future of intelligent by-wire chassis systems.

This is not just a change in shareholding. It is the start of a deeper partnership built on complementary strengths, shared direction, and a common commitment to delivering better products and solutions for our customers.

Looking ahead, WBTL and Yubei Steering will work side by side to advance steering technologies and accelerate the development of intelligent by-wire chassis solutions, with the goal of becoming a more competitive and globally influential chassis technology partner.