Tianjin Pengling Group stated during the visit of institutional investors on October 24 that, as of now, the company has not yet conducted any business dealings with Tesla. Its wholly-owned subsidiary Hebei Xin'ou provides sealing-related components to Chongqing Sokon Industry Group Stock. In terms of global strategy, Tianjin Pengling Group mentioned that the company has chosen horizontal expansion as the main direction, hoping to offer existing customers more types of high value-added products, such as increasing other types of pipe products in different fields, to meet the diverse needs of customers.