The board of directors of EVA Precision Industrial Holdings Limited (the Company) announced that the Company and Digit Stamping Technology (Wuhan) Limited, have been receiving orders from, and have recently begun to supply products to, BYD Auto Industry Co. Ltd. ("BYD"). The Board considers that future long-term collaborations with BYD is conducive to achieving the Group's overall business development and strategic objectives in the new energy vehicles sector and, accordingly, the Company is currently finalising its negotiations with BYD in relation to the terms of a long-term strategic cooperation arrangement (the "Arrangement").

The Group intends that, under the Arrangement, the parties will cooperate and collaborate in the development, manufacturing and supply of various vehicle body structure parts and other products in accordance with the requirements of BYD for its various new energy and other vehicle models that will be manufactured in the PRC. Subject to the finalisation of the terms of the Arrangement, it is intended that such strategic cooperation will initially take place at BYD factories located in Changsha, and the Group aims to subsequently extend such strategic cooperation to BYD factories located in other cities in the PRC, such as Zhengzhou, Jiangxi and Xi'an.