The board of directors of the Yusei Holdings Limited announced that the Group has successfully passed the accreditation assessment of Tesla Inc. recently, and it becomes an approved secondary supplier of Tesla in the People's Republic of China qualified for supplying parts and components in relation to lighting, internal decoration and safety devices for Tesla's electric vehicle production bases located in the PRC and Germany. Tesla has established a Gigafactory in Shanghai, the PRC, and has commenced production of electric vehicles from 2020 to cater for the supply in the Greater China market. The New Tesla Business is expected to bring additional annual revenue of approximately RMB 50 million to the Group. The Board believes that the New Tesla Business will not only broaden the Group's customer base and revenue sources, but also strengthen the Group's leading position in the high-end moulds market and enhance the Group's core competitiveness. In addition, the Board also expects that the New Tesla Business may alleviate the possible adverse effect on the revenue and results of the Group as a result of the temporary suspension of the Group's factories in the PRC, other emergency public health and preventive measures and work and travel restrictions to combat the spread of the Epidemic. As the Group's factories in the PRC have gradually resumed production from mid-February 2020, the Board currently expects that although some orders may be delayed in delivery, the Group can still meet new demands for orders from Tesla under the current production capacity and working capital of the Group, and purchase of additional production plants and equipment is not necessary for this purpose in the short run.