Xi'an Haitian Antenna Technologies Co., Ltd. announced that the Company intends to incorporate a wholly-owned subsidiary in Gaoyou, with registered capital of RMB 20 million. Its incorporation is subject to final approvals from the government and regulatory bodies of China. The establishment of the wholly-owned subsidiary is based on the Company's advantage in Internet of Things (IoT) and data transmission analysis, combined with the new energy industry support policy in Gaoyou.

The wholly-owned subsidiary aims to develop, produce and sell and operate hydrogen energy two-wheeled logistics vehicles.