On September 15, the China Association of Automobile Manufacturers released the "Initiative on Standardizing Payment Practices for Supplier Accounts by Automobile Manufacturers." This initiative sets forth clear guidelines for crucial processes including order confirmation, delivery and acceptance, as well as payment settlement. It places a strong emphasis on enforcing the "Regulations on Ensuring Payment for Small and Medium-sized Enterprises," explicitly forbidding large enterprises from exploiting suppliers' interests by abusing their dominant market positions. The goal is to foster a collaborative and mutually beneficial ecosystem.

GAC Group has promptly and enthusiastically responded to this initiative, actively supporting its implementation. Through concrete actions, the group is driving the coordinated and healthy development of the entire industrial chain. Looking ahead, GAC Group remains steadfast in its commitment to operating with integrity, upholding its promises to suppliers, and collaborating with partners across the industrial chain. Together, they aim to construct an automotive industry ecosystem that is open, transparent, collaborative, and highly efficient.