: The major asset restructuring has not signed a formal agreement yet.

Tianqi Auto announced on May 19th that the company had previously disclosed signing an "Equity Acquisition Intent Agreement" with Delixi Holding Group shareholder Desheng Sixteen, intending to purchase 50% of the equity of the target company held by Desheng Sixteen in cash. The company currently holds 25% of the target company's equity. Upon completion of this transaction, Delixi Holding Group will become a subsidiary of the company. As of the date of this announcement, the significant asset restructuring work is in progress, and various due diligence, audits, evaluations, and other work are ongoing. The parties involved in the transaction are in continuous communication and negotiation, and a formal agreement has not yet been signed. The signing of the formal agreement still requires the fulfillment of necessary decision-making procedures, and there is a risk of not passing the relevant decision-making approval procedures. There is still some uncertainty as to whether a cooperation agreement can be reached and a formal agreement can be signed.