Shandong Hi-Speed New Energy Group Limited after thorough planning and preparation, the Company has decided to formally establish the Research Centre, which will help enhance the Group's industry influence and popularity, and at the same time offer new opportunities for the development and construction of the Group in the "Transportation + Clean Energy" integration. In the future, the Group will leverage on the Research Centre to achieve a wider range of cooperation and development, so as to maintain its leading position in the field of transport and energy integration, and to enable the Group to better grasp the latest policy guidelines, industry trends and scientific research results, which will strongly improve the Group's chances of business development and resources acquisition. The Board is of the view that the establishment of the Research Centre is in the interests of the Company and its shareholders as a whole.