Guotai Junan International Holdings Limited ("Guotai Junan International", 
together with its subsidiaries as the "Group" or the "GTJAI", stock 
code:1788.HK) announced that the Group will join hands with NIO Inc. ("NIO"), 
Contemporary Amperex Technology Co., Limited ("CATL") and Hubei Science 
Technology Investment Group Co., Ltd., ("HBSTI") to collaboratively boost the 
innovation and development of  New Energy Vehicle Battery, proactively 
responding to the national policy of supporting real economy by finance. 
Meanwhile, the companies will support Wuhan Weineng Battery Asset Co., Ltd 
("Weineng"), dedicating to jointly promoting the development of 
"Car-and-Battery Separation" in the new energy vehicle industry and supporting 
Weineng to launch BaaS (Battery as a Service) products. 

As a first-round participant of the project, GTJAI said: "New energy vehicle 
industry's development is greatly supported by the government's major policies. 
As the proportion of the new energy vehicle models with separate car and 
battery increases, Weineng will face an ocean of opportunities in the future. 
In recent years, the Group has been actively reviewing its development strategy 
in which better and stronger foundations were required for further breakthrough 
and development. The Group is expecting to provide more diversified products 
for its clients through active engagement in quality and exceptional projects 
with potential, and boost the development of corporate finance and wealth 
management business and synergy between business lines over the 
mid-to-long-term.

Wuhan Weineng Battery Asset Co., Ltd. is a battery asset management company 
based on the development of "Battery Replacement" and "Car-and-Battery 
Separation" business model. Relying on the NIO brand, Weineng is planning to 
expand its business to all electrical vehicle brands. Battery as a Service 
(BaaS) provides a comprehensive service including car-and-battery separation, 
battery rental, as well as other rechargeable, exchangeable and upgradeable 
services. It is a breakthrough innovation in terms of technology and business 
model, in which users do not need to purchase battery packs when purchasing a 
car, but to choose rental battery packs of different capacities by paying 
monthly service fees, according to their actual needs. BaaS users can also 
enjoy battery replacement services and flexible battery upgrade services just 
as battery-purchasing users.

Source: Guotai Junan Securities