On June 28th, Gelunhui reported that Zotye Automobile (000980.SZ) announced that its subsidiary, Zhejiang Zotye Automobile Manufacturing Co., Ltd. (hereinafter referred to as "Zotye Manufacturing" or "subordinate" or "Party A"), and Algeria SARL AI Auto (hereinafter referred to as "Party B") signed an "Exclusive Distribution Intention Agreement" recently.

Party A designates Party B as the exclusive dealer of the ZOTYE brand in Algeria, and Party B accepts the appointment and serves as the exclusive dealer of the contract products in the region as stipulated in this Letter of Intent.

Party B will directly establish sales facilities and network in accordance with the requirements of network construction, and set up direct sales institutions nationwide, or establish sales institutions through authorized agents. Party A will assist Party B in developing distribution networks throughout the country.