Wuhan CRRC Electric Traction Technology Co., Ltd. (the “Company”) was jointly established by CRRC Dalian R&D Co., Ltd., subordinate to CRRC Corporation Limited (“CRRC”), and Wuhan CRRC Co., Ltd. in December 2014. It is an important strategic layout of CRRC to better promote the creation of Wuhan’s high-end industrial chain of rail transit equipment, fill the gap of Hubei Province in rail transit traction and control sector in Central China and keep a foothold the Central Plains based on Wuhan.