On June 30, 2015, Xuchang Far East Driveshaft Co., Ltd. (abbreviated as "Far East Drive") and Bei Ben Heavy-Duty Truck Group Co., Ltd. ("Bei Ben Heavy Duty Truck") signed the "Strategic Cooperation and Confidentiality Agreement." Far East Drive and Bei Ben Heavy Duty Truck, as key military equipment and military technology products, will further strengthen cooperation in military products and civilian products on the basis of cooperation and build a market service network to increase market competitiveness and share.

Xuchang Far East Driveshaft Co., Ltd.

The announcement said that the signing of the "Strategic Cooperation and Confidentiality Agreement" between the two sides is a strategic choice for the two sides to achieve mutual complementarity, which is conducive to the establishment of a closer and more harmonious strategic cooperation relationship between the two sides and the role of information sharing, mutual benefit, and harmonious development.

It is reported that Beiben Heavy Duty Truck is a large-scale, high-end pillar type heavy commercial vehicle manufacturing enterprise directly under China North Industries Group Corporation. In 1988, a full set of proprietary manufacturing technology and equipment for the German Daimler-Benz heavy-duty truck was introduced. It was fully completed in 1995 and passed national acceptance. After more than 20 years of hard work, Beiben Heavy Duty Truck Group has grown into a backbone enterprise with significant influence and coverage in the domestic heavy truck industry. The signing of this agreement will surely promote the cooperation between Far East Power Transmission and Bei Ben Heavy Duty Trucks to develop in depth, and quickly enhance both core technology and industrial automation capabilities.

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