BEIJING ERICHMAN TECHNOLOGY CO.LTD.

Hunan Hengrun Automobile Co., Ltd., hereinafter referred to as “Hengrun Automobile”, is a modern enterprise qualified in manufacturing passenger vehicles and commercial vehicles (including new energy vehicles), and specialized in the research, development, manufacturing, sales and after-sales service of automobiles and auto parts, accessories and attachments.Hengrun Automobile, established in March 2014, with the registered capital of RMB 200 million, a total investment of over RMB 3 billion and a floor area of over 600mu (including the land for Phase-I and Phase-II Projects). It’s of a solid capital base and advanced technical services. Phase-I Project of the Company is to carry out technological transformation of the existing plant to achieve a production capacity of 20,000 new energy vehicles per year, in which four process production lines are established, including stamping, welding, painting and final assembly, and related production and living facilities such as power station house, warehousing and logistics workshops, and canteen, etc. are built. In addition, Phase-II Project will be designed and constructed in compliance with the domestic first-class production line standards with high specifications and excellent plans, in which advanced production equipment will be purchased worldwide, and modern automobile production workshops will be built for four complete processes (stamping, welding, painting and final assembly) and the production of key parts and components such as battery, with the degree of automation up to over 80%. In this way, a flexible production line with an annual output of 100,000 new energy vehicles will be established, and new energy SUVs/MPVs/cars and other models can be produced on the same production line.The first production vehicle of Hengrun Automobile is A0-class intelligent battery electric SUV, which is designed with three doors and four seats, fashionable appearance and rich configuration, with the maximum speed of 102KM/h and a range of more than 300KM. The Company applied for vehicle license early in November 2018. Hengrun Automobile will take the initiative to shoulder social responsibility, and adhere to the idea of “lasting forever and benefiting the world” to create an environment-friendly, safe, intelligent and convenient travel ecosystem, so that everyone can travel in a green and convenient way.