VOLUNTARY ANNOUNCEMENT
BUSINESS UPDATE
Reference is made to the annual report for the year ended 31 December 2020 of Qingling
Motors Co. Ltd (the “Company”, together with its subsidiaries, the “Group”), in relation to,
among other things, the outlook and prospects of the Company to accelerate the development of
hydrogen fuel cell vehicle industry.
The board of directors (the “Directors”) of the Company (the “Board”) is pleased to announce
that the Company held a signing and delivery ceremony with the first batch of customers
for hydrogen fuel cell vehicles in Chongqing on the morning of 13 August 2021. During the
ceremony, the Company entered into agreements with various logistic companies, being the first
batch of users to demonstrate operation, and delivered to those users the first batch of hydrogen
fuel cell vehicles manufactured by the Group.
Hydrogen fuel cell vehicles, which are capable of traveling long driving distance and have short
fueling times, are suitable for long-distance and heavy load transportation, and they are also one
of the development directions as mentioned in the New Energy Vehicle Industry Development
Plan of the People’s Republic of China (the “PRC”).
This batch of hydrogen fuel cell vehicles manufactured by the Group symbolises the advanced
technology of fuel cell commercial vehicles in the PRC, and their power density, highest
efficiency rate and other indicators have fulfilled the 2030 PRC technological requirements of
hydrogen fuel cell commercial vehicles.
The Group will actively promote the development of high quality and high speed hydrogen fuel
cell vehicles, and continue to optimise the performance of products, in order to expand its market
share in the commercial vehicle industry and bring better return to the investors.
By Order of the Board
QINGLING MOTORS CO. LTD
LUO Yuguang
Chairman
Chongqing, the PRC, 20 August 2021
As at the date of this announcement, the Board comprises 11 Directors, of which Mr. LUO Yuguang, Mr. YASUTA Tatsuya,
Mr. MASUDA Yoichi, Mr. YAGI Naoto, Mr. LI Juxing, Mr. XU Song and Mr. LI Xiaodong are executive Directors and Mr.
LONG Tao, Mr. SONG Xiaojiang, Mr. LIU Tianni and Mr. LIU Erh Fei are independent non-executive Directors
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