Establishment of a New Smart Car Company in China

A disclosure in the Shenzhen Stock Exchange, today Sunday, revealed that Huawei has reached an agreement with the Chinese automotive company "Shuixing Changan" to establish a company focusing on research, development, design, and sale of smart car systems and component solutions. The disclosure provided by Changan Auto stated: "Both parties will jointly support the targeted company to become a leader in the smart car systems and component solutions industry in China."