Core Viewpoint - Jiangsu Changshu Automotive Trim Group Co., Ltd. plans to invest €24 million in establishing a wholly-owned subsidiary, "Changshu Automotive Trim (Spain) Intelligent Cockpit Co., Ltd." in Zaragoza, Spain, to enhance its overseas business and competitiveness in the European market [2][3][8]. Group 1: Overview of the Investment - The investment will be made through the company's wholly-owned subsidiary "Changshu Automotive Trim (Hong Kong) Limited" and its wholly-owned subsidiary "Changshu Automotive Trim (Luxembourg) S.ar.l" [3][4]. - The investment amount is €24 million, funded by the company's own resources [5][6]. - The new subsidiary will focus on the production, sales, and trade of automotive intelligent cockpits, components, molds, and automation equipment [6][8]. Group 2: Corporate Governance and Approval - The investment proposal was approved unanimously by the board of directors during the meeting held on August 1, 2025, with a vote of 7 in favor and none against [4][20]. - The investment does not constitute a related party transaction or a major asset restructuring as defined by relevant regulations [4][8]. Group 3: Impact on the Company - The establishment of the Spanish subsidiary aligns with the company's strategic planning and aims to better serve international clients while expanding its overseas market presence [8]. - The new subsidiary will be included in the consolidated financial statements of the listed company, and there will be no new related party transactions or competition issues arising from this investment [8].

Investment Overview - Jiangsu Changshu Automotive Trim Group Co., Ltd. plans to invest a total of €24 million to establish a wholly-owned subsidiary in Zaragoza, Spain, through its wholly-owned subsidiary CAIP Hong Kong Limited [1][3] - The new subsidiary, tentatively named Changshu Automotive Trim (Spain) Intelligent Cockpit Co., Ltd., will focus on the production, sales, and trade of automotive intelligent cockpits, components, molds, and automation equipment [1][4] Investment Structure - The investment structure involves a direct 100% ownership of the Spanish company by the Luxembourg subsidiary, which is fully owned by the Hong Kong subsidiary, ultimately controlled by the parent company [2][4] - The board of directors approved the investment proposal with a unanimous vote of 7 in favor, with no opposition or abstentions [2] Financial Impact - The newly established Spanish company will be included in the consolidated financial statements of the listed company, and the investment does not constitute a related party transaction or a major asset restructuring as per regulatory definitions [2][4] Strategic Importance - This investment aligns with the company's strategic planning and overseas business development needs, aiming to enhance service to international clients and expand market presence in Europe [4][5] - The establishment of the Spanish subsidiary is expected to improve the company's overall competitiveness in the European market [4] Risk Considerations - The investment is subject to overseas investment filing, and there are uncertainties regarding approval from relevant authorities and the time required for completion [3][4] - The company acknowledges potential risks associated with international operations, including legal, regulatory, and market competition factors [3][4]

Group 1 - The board of directors of Jiangsu Changshu Automotive Trim Group Co., Ltd. held its fourth meeting of the fifth session on August 1, 2025, with all seven directors present, and the meeting complied with relevant regulations [1][2] - The board approved the proposal for the Hong Kong subsidiary to invest in a Luxembourg subsidiary to establish a wholly-owned subsidiary in Zaragoza, Spain, named "Changshu Automotive Trim (Spain) Intelligent Cockpit Co., Ltd." with a total investment of €24 million [1][2] - The investment aims to enhance the company's competitiveness in the European market and better serve international clients by expanding overseas business [1]

Core Viewpoint - The company plans to establish a wholly-owned subsidiary in Zaragoza, Spain, with an investment of €24 million to enhance its competitiveness in the European market [1] Group 1: Investment Details - The total investment amount for the new subsidiary is €24 million [1] - The subsidiary will be named "Changshu Automotive Interior (Spain) Intelligent Cockpit Co., Ltd." [1] Group 2: Business Scope - The business scope of the subsidiary includes the production, sales, and trade of automotive intelligent cockpits, components, molds, and automation equipment [1] Group 3: Strategic Intent - The investment aims to expand the company's overseas market presence and develop new business opportunities [1] - The initiative is expected to enhance the company's overall competitiveness in the European market [1]

Group 1 - The automotive industry is undergoing a significant transformation driven by AI large models and multimodal interaction technology, enabling smart cockpits to not only display driving information and navigation but also engage in communication and assist with tasks like ordering food and booking tickets [1] - The 2025 World Artificial Intelligence Conference (WAIC 2025) showcased the latest technological advancements in smart cockpits, highlighting the shift towards proactive intelligence in automotive applications [1][2] - The implementation of edge-based multimodal large model solutions can achieve a 90% service closure in perception, decision-making, and execution within smart cockpits, enhancing user experience through natural dialogue [2] Group 2 - The core challenge of multimodal interaction in practical scenarios lies in the fusion of multimodal signals and prioritization, with dynamic weight algorithms adjusting sensitivity based on situational complexity [2] - The IDC report indicates that vehicle-side interaction is evolving from "command execution" to "proactive service," becoming a key competitive technology for automakers [2] - The design of smart cockpit systems aims to create products with human-like intelligence, capable of understanding, remembering, and interacting proactively, thus transforming the cockpit into a third living space for users [3] Group 3 - The integration of smart cockpit and smart driving technologies is becoming increasingly urgent, with a focus on ensuring compliance in technology, data, and safety to mitigate regulatory risks [5] - The adoption rate of smart cockpits in passenger vehicles priced over 200,000 yuan is projected to reach 100% by 2024, with significant increases in lower-priced segments as well [4] - The automotive industry is encouraged to view regulatory compliance not merely as a burden but as an opportunity for product innovation and market differentiation [5]

Core Viewpoint - The article discusses the IPO of a smart cockpit company from Nanjing, Jiangsu, which has incurred losses exceeding 800 million over the past three years, with Didi investing in the company [1] Group 1: Company Overview - The smart cockpit company is preparing for an IPO, indicating a significant step in its growth and market presence [1] - Didi's investment in the company highlights the strategic interest from major players in the automotive technology sector [1] Group 2: Financial Performance - The company has reported cumulative losses of over 800 million in the last three years, raising concerns about its financial sustainability [1] - The financial performance may impact investor sentiment and the success of the upcoming IPO [1]