The board of directors announced that on January 15, 2018, China Harmony New Energy Auto Holding Limited entered into a strategic cooperation agreement with China Continent Property & Casualty Insurance Company Ltd., pursuant to which the two parties agreed to cooperate in diversified aspects in terms of Chinese domestic insurance business, investment and financing business and communication on innovation for a term of three years from January 15, 2018 to January 14, 2021. Pursuant to the Strategic Cooperation Agreement, Henan Hexie Automobile Trading Co., Ltd., a wholly-owned subsidiary of the Group, entered into a formal automobile insurance agreement with the group companies of Continent Insurance under the principles as set out in the Strategic Cooperation Agreement to provide concrete detailed terms.