According to the Zhitong Finance App, Deutsche Bank World (02418) announced that on April 16, 2024, Tonghui, a wholly-owned subsidiary of the company, signed a lease agreement with Shaanxi Heavy Duty Truck. According to this, Tonghui leased land, housing and equipment from Shaanxi Heavy Duty Truck, with a total rent of RMB 124.463 million (tax included).

On the same day, Tonghui signed an industrial product sales contract with Shaanxi Heavy Duty Truck. According to this, Tonghui provided a power battery system and power exchange system with a total price of RMB 17.1062 million (excluding tax) to Shaanxi Heavy Duty Truck.

According to the announcement, Shaanxi Heavy Duty Truck is a long-term cooperative customer of Tonghui, and the two sides have cooperated well. To facilitate business development, Tonghui has taken root in the production base of Shaanxi Automobile Industrial Park and leased land, housing and equipment from Sinotruk. The conclusion of the lease contract is based on the Group's overall strategic layout and business development needs. It is in line with the Group's long-term development strategy, and will help the Group carry out supply chain system warehousing, transportation and various value-added services to promote the long-term and healthy development of the Group. The terms of an industrial product sales contract, including the total material price, settlement method and other terms in the industrial goods sales contract, are determined by the contracting party after fair negotiation by referring to the current market price of the same type of product and the trading practices of the same type of enterprise. Tonghui is a core participating member of the Group's New Energy Project Team and undertakes the battery assembly business in innovating the Group's new energy business sales model. Shaanxi Heavy Duty Truck is Tonghui's long-term cooperative customer, and the two sides cooperate well. Therefore, the conclusion of an industrial product sales contract is in line with the Group's long-term development strategy and will help the Group broaden its business channels, open up new fields, enhance the Group's competitiveness, and promote the Group's long-term and healthy development.