WULING MOTORS (00305) announced that to seize strategic opportunities in the automotive industry's intelligent transformation, the Group has established an indirectly non-wholly owned subsidiary—Guangxi Yuankong Intelligent Drive Technology Co., Ltd. (Yuankong Intelligent Drive). This subsidiary will operate as an independent business entity specializing in low-speed autonomous driving systems and solutions.

Currently, these operations are managed by Liuzhou Wuling Motors Industrial Co., Ltd. (Wuling Industrial), a directly non-wholly owned subsidiary of the Company. Yuankong Intelligent Drive is now a directly wholly owned subsidiary of Wuling Industrial.

The new subsidiary primarily focuses on low-speed autonomous driving, specializing in the R&D and manufacturing of wire-controlled chassis and low-speed autonomous unmanned vehicles, along with providing related solutions. Its product lineup includes serialized wire-controlled chassis products and scenario-specific vehicle solutions, catering to applications such as intelligent charging robots, unmanned shuttles, and unmanned logistics. Some products have already been successfully launched in the market.

The establishment of Yuankong Intelligent Drive aims to leverage the Group's existing resources and strengths to further incubate, empower, and advance its autonomous driving business. The Board believes that operating Yuankong Intelligent Drive as an independent entity aligns with the Group's development strategy, enhancing business transformation efficiency, refining innovation mechanisms, optimizing resource allocation, and fostering team autonomy.

The Board is confident that Yuankong Intelligent Drive will create synergies with the Group's existing operations and inject new momentum into its long-term growth.