VALA(02051) signed a campervan development agreement with Liuzhou WULING MOTORS Industrial Co., Ltd.

VALA (02051) announced that its wholly-owned subsidiary Hangzhou Vala Network Technology Co., Ltd. (Hangzhou Vala) has signed a "Wuling Light EV Camping Car Development Agreement" with Liuzhou Wuling Motors Industrial Co., Ltd. (Wuling Motors), to jointly develop the Wuling Light EV camping car. According to the development agreement, the two parties agreed to use the Wuling Light EV model independently designed and developed by Wuling Motors as the prototype vehicle, carry out whole vehicle personalized customization development, and cooperate in product development, component research and development, production line debugging, product performance testing, and reliability testing, etc., to jointly develop the Wuling Light EV camping car. Hangzhou Vala is mainly responsible for the design of the vehicle's personalized customization scheme and the development of related special parts; Wuling Motors is mainly responsible for whole vehicle technical verification, production process optimization, certification, and production manufacturing. The two parties confirmed that Hangzhou Vala is the exclusive customized cooperation partner for the Wuling Light EV camping car, and the sales rights of this model belong only to Hangzhou Vala and the sales channels approved by Hangzhou Vala. The Wuling Light EV camping car jointly developed by the two parties is planned to be sold under the official name "vala kcar" in the future. The Board of Directors believes that the signing of the development agreement with Wuling Motors is an important strategic move for the Group to deepen its layout in the Vala automotive business and expand into the new energy vehicle segment market. Wuling Motors has mature experience and a complete system in new energy vehicle production manufacturing, technical verification, and certification. Through cooperation with Wuling Motors, the Group can leverage the brand awareness, product reputation, and well-established dealer network of Wuling Motors Group to further enhance the market penetration of Vala automobiles. At the same time, through the joint development of the Wuling Light EV camping car model, the Group can continuously enrich Vala's product portfolio, expand into multi-dimensional markets and diverse user groups, deepen the Group's strategic layout in the field of new energy vehicles, and bring long-term stable growth potential to the Group's Valalife business. Therefore, the signing of the development agreement is in line with the overall interests of the company and its shareholders.