On the morning of September 20^th, 2024, Mr. Dong Jianhua, Executive Vice President of the Shanghai Electric Group and Chairman of Highly Group, led a delegation to conduct research at the Highly Marelli headquarters in Shinjuku, Japan. They held discussions with the Highly Marelli management team, including Mr. Miao Jun, President of Highly Group, Chairman of Highly Marelli, Mr. Lu Haifeng, Vice President of Highly Group and CEO of Highly Marelli, Mr. Cui Rongsheng, Vice President of Highly Group, and Mr. Toshio Nashiro, COO of Highly Marelli.

  Mr. Dong Jianhua received a detailed report from Highly Marelli on the overall business performance for the first half of 2024, as well as the budget and profit situation for the Japan region. Subsequently, in an in-depth discussion with the attendees, he brought out several key topics, including the cost allocation criteria for the HM GHQ, market forecasts for the next two years, and the achievements of the Wuhu Plant in China.

  After the discussion, Mr. Dong Jianhua delivered an important speech. He began by praising the hard work of Highly Marelli's leaders and employees in the first half of 2024, recognizing the positive changes achieved. He encouraged everyone to maintain this momentum over the next three months, emphasizing the importance of not only meeting annual goals but also striving for even better results.

  Mr. Dong Jianhua then emphasized the current focus: dedicating full efforts to the 2025 budget. He pointed out that the company has successfully reversed the declining trend this year and expressed hope for a fundamental transformation in 2025. He urged everyone to balance short-term and long-term goals effectively, advocating for a pragmatic approach centered on sustainable high-quality development. He stressed the importance of solidifying technological iteration and reserves to lay a strong foundation for the company’s long-term growth and strategic objectives.

  Additionally, Mr. Dong Jianhua specifically noted that as a globally positioned company, Highly Marelli is expected to continuously strive to leverage the initiative of each region. He urged the management team to optimize management, enhance efficiency, and reduce costs, thereby consistently advancing two key strategic goals: first, to increase the proportion of non-Nissan marketing revenue, and second, to expand the market share of new energy vehicle products.

  He also emphasized the importance of long-term development and cultural integration, hoping the company can grow larger and stronger. As a publicly listed company, Highly Group has a significant social responsibility, therefore, he urged the company to continuously pursue energy-efficient and environmentally friendly products. He expressed a desire for HM to improve its market share in new energy products, highlighting that this should be reflected in both strategic and tactical approaches to stay true to the original aspiration and mission when the company is established.

  Finally, he reiterated his gratitude for the hard work of all HM employees and wished for the company to achieve even better performance, realizing long-term, high-quality development.