The Board of Directors of China Central Automobile Co., Ltd., convened on March 28, 2024 and approved the resolution prepared for the issuance of asset depreciation for 2023. In accordance with the Corporate Accounting Standards and Corporate Accounting Methods, the Company has prepared for asset impairment of RMB18.69 million to reflect its operating results and financial situation in 2023. Among them, financial assets such as accounts receivable were raised $12.62 million, contract assets were prepared for depreciation, inventories were prepared for depreciation of $3.85 million, and other assets were prepared for depreciation of $0.61 billion. The increase will reduce the company's consolidated financial statement profit by $18.69 million. The Board of Directors, the Audit and Risk Management Committee and the Supervisory Board consider that this amount meets the relevant requirements and fairly reflects the financial condition and operating results of the Company.

The Board of Directors of China Central Automobile Co., Ltd., convened on March 28, 2024 and approved the resolution prepared for the issuance of asset depreciation for 2023. In accordance with the Corporate Accounting Standards and Corporate Accounting Methods, the Company has prepared for asset impairment of RMB18.69 million to reflect its operating results and financial situation in 2023. Among them, financial assets such as accounts receivable were raised $12.62 million, contract assets were prepared for depreciation, inventories were prepared for depreciation of $3.85 million, and other assets were prepared for depreciation of $0.61 billion. The increase will reduce the company's consolidated financial statement profit by $18.69 million. The Board of Directors, the Audit and Risk Management Committee and the Supervisory Board consider that this amount meets the relevant requirements and fairly reflects the financial condition and operating results of the Company.