Core Viewpoint - The Company has entered into a non-binding cooperative agreement with Hangzhou Qianhui to develop and operate two-wheeled e-charging stations, aiming to meet the growing demand for efficient charging solutions in urban transportation systems [1][3][8] Background and Objectives of the Cooperative Relationship - The cooperative relationship aligns with Hangzhou Qianhui's three-year strategic development plan for its two-wheeled e-charging business, leveraging its technologies, operational expertise, and market resources [2] - The primary objective is to establish a larger-scale operation of two-wheeled e-charging stations to enhance urban transportation [3] Scope of the Cooperative Relationship - The Company will provide financial support through initial capital and phased investments based on business progress, while assisting in cooperation with local governments and optimizing the supply chain [4] - Hangzhou Qianhui will manage the business operations, including procurement and construction of e-charging stations, and ensure the stability of the charging platform [5] Business Model and Revenue Sharing - The relationship delineates responsibilities, with the Company providing financial resources and Hangzhou Qianhui handling technological and operational aspects [6] - Revenue distribution will be based on actual performance and equity ratios, allowing both parties to share in the net profits generated [7] Commitment to Innovation and Growth - This partnership represents a significant step towards innovation and growth in urban transportation, aiming to create a sustainable e-charging infrastructure that benefits consumers and the environment [8] Company Overview - Huachen AI Parking Management Technology Holding Co., Ltd is a Cayman Islands holding company that consolidates the financial results of its subsidiaries, focusing on smart parking solutions and equipment [10] - The Company provides customized parking solutions, including smart cubic parking garage design and various parking equipment manufacturing [10] About Hangzhou Qianhui Electric Technology Co., Ltd - Hangzhou Qianhui, established in August 2024, specializes in new energy technology, electric charging pile operations, and IoT technology research and development [11]