Siles: Sign a cooperation agreement with the People's Government of Shapingba District, Chongqing City to establish a target company by contributing the relevant existing assets of Blue Electric Vehicles.

Siles announced that on February 8, the company signed a "Cooperation Agreement" with the Sandouping District People's Government of Chongqing. The company will set up a target company by divesting the relevant existing assets of Blue Electric Vehicles, and the Sandouping District Government will form or introduce a limited partnership enterprise, other investors, and an operating team to increase the capital of the target company in cash. After the contributions from all parties, the Sandouping District Government will hold approximately 33.5% of the shares, the company and its designated entities will hold approximately 32% of the shares, and the target company's employee shareholding platform will hold approximately 16% of the shares.