Core Viewpoint - Hyundai is accelerating its market strategy in China by diversifying its product matrix to seek a sales recovery [1] Group 1: Product Strategy - Hyundai successfully launched the popular large SUV, the Palisade hybrid version, in China [1] - The company is preparing to develop a pure electric vehicle series, ELEXIO, specifically for the Chinese market to boost sales [1] Group 2: Market Outlook - Analysts believe that if Hyundai can maintain growth in exports to China while recovering sales in South Korea, it will achieve a breakthrough in its business structure in China [1]

为了在中国市场精准落子，新西兰乳企a2牛奶公司进行了一波"工厂置换术"。 8月18日，a2牛奶公司宣布，以总对价约为2.82亿新西兰元（折合人民币约12亿元）从蒙牛乳业旗下子 公司雅士利国际集团有限公司收购其在新西兰POKENO的工厂，该工厂已获批两个新国标中标配方奶 粉注册。 与此同时，a2牛奶公司舍弃了一个旧的工厂，称和中国牧工商集团（CAHG）共同将各自持有的马陶拉 乳业（MVM）股权有条件出售给Open Country Dairy Limited（Open Country）。收购新工厂、卖掉旧工 厂，背后是这家公司对中国这一核心市场的战略聚焦。该公司表示，在取得中国监管部门的批准后，将 基于扩展的a2品牌产品组合，争取获得两个新国标中标配方奶粉的产品注册机会，确保获得更广阔的中 国市场准入。基于中国监管部门的批准，未来还有可能获得第三个配方注册。 收购加改造，a2牛奶公司将在新工厂上投入3.82亿新西兰元（折合人民币约16亿元），巨额投入后能否 带来相应回报？ 斥巨资收购雅士利工厂 锁定中国市场"入场券"的核心考量 作为新西兰乳业巨头，a2牛奶公司持续扩大产能布局，宣布以12亿人民币收购雅士利旗下新西 ...

Transaction Overview - The company’s wholly-owned subsidiary, Daya Wood Industry (Nanning) Co., Ltd., signed a lease agreement with Nanning Overseas Chinese Investment Zone Huasheng Asset Management Co., Ltd. for a particleboard production plant and equipment located at No. 18, Ningwu Road, Guangxi-ASEAN Economic and Technological Development Zone, with an annual rent of 17 million RMB for a lease term of 3 years and 4 months, including a 4-month rent-free period [1][4][6] Parties Involved - Daya Wood Industry (Nanning) Co., Ltd. is a limited liability company with a registered capital of 30 million RMB, established on June 19, 2025, focusing on the manufacturing and sales of engineered wood products [2][3] - Nanning Overseas Chinese Investment Zone Huasheng Asset Management Co., Ltd. is a state-owned enterprise with a registered capital of approximately 520.29 million RMB, established on April 7, 2004, involved in asset operation and capital management [2][3] Contract Details - The lease includes a total area of 55,970 square meters for the plant and equipment, with the total contract value amounting to 51 million RMB [4][6] - The lessee is required to pay a security deposit of 5 million RMB within 10 working days of signing the contract, which can be used to cover any unpaid dues or damages [5][7] - The lessee is granted a rent-free period for production preparation and equipment installation from July 18, 2025, to October 17, 2025, during which they must still pay property fees and utility costs [6][7] Impact on the Company - The lease aims to efficiently integrate and leverage the company's established production, operational, and core technological advantages in the engineered wood sector, facilitating the brand's penetration into the South China market [9][10] - The Nanning region offers a complete upstream and downstream industrial support system and significant regional cost advantages, which will enhance operational efficiency and reduce overall costs, thereby improving the market competitiveness of the company's products [9][10]