Core Viewpoint - The Chinese National Market Regulatory Administration has conditionally approved the acquisition of Doleis Group by American Axle Manufacturing Holdings, emphasizing the importance of fair competition and stable supply in the automotive transmission system market [1] Group 1: Acquisition Details - The acquisition involves a significant player in the global automotive transmission system products market, which is crucial for ensuring the safe and stable operation of vehicles [1] - American Axle, established in 1998 in the U.S., focuses on the production and sales of transmission system products and other automotive components [1] - Doleis, founded in 2023 in the U.K., primarily produces automotive transmission systems, sintered metal products, and metal powders [1] Group 2: Regulatory Conditions - The approval includes four commitments from American Axle and Doleis: fair and non-discriminatory supply, provision of development opportunities, adherence to contracts, and stable pricing [1] - These commitments aim to ensure reasonable pricing and stable supply of high-performance automotive components, protecting the interests of downstream customers and consumers [1] - The regulatory review considered the potential impact of the transaction on competition in China's automotive power transmission unit and rear-drive module markets [1]

Core Viewpoint - The National Market Regulation Administration of China has approved the acquisition of shares in Dole Group Public Limited by American Axle Manufacturing Holdings, Inc. with additional restrictive conditions to ensure fair competition in the automotive transmission system market [1] Group 1: Acquisition Details - The acquisition involves a major global supplier of automotive transmission system products, which are crucial for ensuring the safe and stable operation of vehicles [1] - The approval includes commitments from American Axle and Dole to provide fair, reasonable, and non-discriminatory supply, development opportunities, continued performance, stable pricing, and not to refuse reasonable renewal requests [1] Group 2: Market Impact - The regulatory review considered the potential impact of the transaction on competition within China's automotive power transmission unit market and rear-drive module market [1] - The commitments made by the companies are expected to contribute to reasonable pricing and stable supply of high-performance automotive components, thereby protecting the interests of downstream customers and consumers [1]

Group 1: Business Overview - The company operates in two main sectors: automotive parts and new energy storage [2] - Automotive parts include R&D, production, and sales of transmission system products for passenger vehicles, commercial vehicles, and new energy vehicles [2] - The new energy storage business focuses on power generation side storage stations, grid side independent storage stations, and user side storage stations [2] Group 2: Passenger Vehicle Transmission Development - The company is expanding its CVT automatic and MT manual transmission products into international markets such as Europe, Southeast Asia, and the Middle East [3] - The growth in electric vehicle (EV) penetration is expected to drive sales of EV reducers and related products [3] Group 3: Commercial Vehicle Transmission Development - The company has a competitive advantage in the light truck transmission market, with significant sales growth in 2025 [4] - Focus on electric products for light trucks, including P2 and PS hybrid systems, with increased single vehicle value compared to manual products [4] - Heavy-duty truck transmission products are a key area for expansion, with performance comparable to international brands and a cost advantage [4] Group 4: Non-Road Transmission System Development - The company is developing products such as electric drive systems for construction machinery and CVTs for high-horsepower tractors [5] - New products have been launched, with positive client feedback and increased single vehicle value compared to passenger vehicle products [5] Group 5: Robotics Components Development - A dedicated robotics subsidiary has been established to focus on precision transmission products for robots [6][7] - The production line for robotic joint precision transmission products is expected to be operational by May 2026 [7] - The product platform includes harmonic reducers and planetary reducers, catering to various robotic applications [7] Group 6: New Energy Storage Business Development - The company has operational grid-side independent storage stations in Zhaoqing and Yiwu, with capacities of 100MW/200MWh and 100MW/200MWh respectively [7] - Ongoing construction of additional storage stations in Foshan and Yiwu, with expected completion by the end of 2025 [7] - The company is actively expanding its footprint in multiple regions for independent storage projects [7]