Core Viewpoint - The company has decided to terminate the establishment of a branch in Shanghai and instead invest in a new subsidiary named Huitong Tianxia Automotive Technology (Shanghai) Co., Ltd. with a registered capital of 1 million RMB [1] Group 1 - The new subsidiary will be wholly owned by the company, with a 100% shareholding ratio [1] - The legal representative of the new subsidiary is Wu Zhaojuan, and its business location is in Minhang District, Shanghai [1] - The business scope of the new subsidiary includes technical services, technical development, and technical consulting [1] Group 2 - This investment is aimed at strengthening the company's business layout in the Shanghai region [1] - The establishment of the subsidiary is expected to attract high-end talent and enhance the company's independent innovation capabilities [1] - Overall, this move is anticipated to improve the company's comprehensive strength and core competitiveness, which is seen as having a positive significance for future development [1]