Overview - The company has decided to terminate the establishment of a branch in Shanghai and instead invest in setting up a subsidiary named "Huitong Tianxia Automotive Technology (Shanghai) Co., Ltd." with a registered capital of 1 million RMB [1][2]. New Subsidiary Details - The new subsidiary will be located at 1136 Shenbin South Road, Room 605-A, Minhang District, Shanghai [1]. - The legal representative of the new subsidiary will be Wu Zhaojuan [1]. - The business scope includes technology services, development, consulting, automotive parts R&D, management consulting, information technology consulting, and new materials technology development [1][2]. Impact on the Company - Establishing the subsidiary in Shanghai is expected to enhance the company's business layout in the region, leveraging Shanghai's geographical and talent advantages [2]. - This move is anticipated to attract high-end talent, improve the company's independent innovation capabilities, and strengthen its overall competitiveness [2].