On February 8, Seres entered into a Cooperation Agreement with the People's Government of Shapingba District in Chongqing. As part of the agreement, Seres will contribute capital by divesting stock assets (Note: For enhanced clarity, 'existing assets related to Landian Automobile' have been incorporated here; however, if a strict literal translation is preferred, it should read as 'relevant existing assets of Landian Automobile') to establish a new target entity. Meanwhile, the Shapingba District Government will either set up or introduce Party A's Special Purpose Vehicle (SPV), which will collaborate with other investors and the management team to conduct cash capital injections. Following the capital contribution, Party A's SPV will own approximately 33.5% of the shares, other investors will hold roughly 18.5%, Seres along with its designated entities will possess about 32%, and the employee shareholding platform will account for approximately 16%. The target company's board of directors will comprise five members, with Seres appointing one representative.