On December 5th, NIO announced on the Hong Kong Stock Exchange that the company has signed a definitive agreement with Anhui Jianghuai Automobile Group Co., Ltd. to acquire certain production equipment and assets. Jianghuai is a major state-owned automobile manufacturer in China and currently co-manufactures all of NIO’s existing models. According to these definitive agreements, our company will acquire the production equipment and assets of the first advanced manufacturing base and second advanced manufacturing base from Jianghuai, with a total pre-tax price of approximately RMB 3.16 billion.