Corporate Information

Company Introduction

Our Vision

“

To become an EV market player primarily focused on our proprietary battery-swapping technology, the UOTTA technology, which is an intelligent modular battery-swapping technology designed to provide a comprehensive battery power solution for EVs.

”

We are a vehicle-sourcing service provider in China. Since our commencement of operations in 2013, we have principally engaged in providing vehicle sourcing services. We broker sales of vehicles between automobile wholesalers and buyers including small and medium sized vehicle dealers (“SME dealers”) and individual customers primarily located in the lower-tier cities in China. We have focused on building business relationships with our sourcing partners and have developed a vehicle sourcing network. As of March 2023, our vehicle sourcing network consisted of approximately 100 wholesalers and 30 SME dealers located in lower-tier cities in China.

Beginning in 2020, we gradually shifted our focus from the vehicle sourcing business to developing our proprietary battery-swapping technology, or UOTTA technology. Our plan is to develop a comprehensive EV battery power solution based on UOTTA technology, which mainly consists of:

Vehicle-mounted Supervisory Control Units

Vehicle-mounted supervisory control units that monitor the real-time status of an EV’s battery packs;

Customized Vehicle Vontrol Units (“VCUs”)

Customized vehicle control units (“VCUs”), which upload real-time data of the electric vehicle, such as its battery status, real-time location and safety status, to our data platform, using Bluetooth and/or Wi-Fi technologies;

Data Management Platform

Data management platform, which collects and synchronizes real-time information of the EVs uploaded by their respective VCUs, as well as information on the availability and locations of compatible UOTTA battery-swapping stations that assist drivers in locating the nearest compatible UOTTA battery-swapping station(s) available when the EV’s battery is determined to be lower than a certain level;

UOTTA Battery-Swapping Stations

UOTTA battery-swapping stations designed for precise positioning, rapid disassembly, compact integration and flexible deployment of battery swapping for compatible EVs.

We have established in-house capabilities in the innovation of EV battery-swapping technology. Our research and development team are committed to technology innovation. As of March 2023, we had 14 issued patents and 24 pending patent applications in China.

In 2021, we started cooperating with major Chinese automobile manufacturers to jointly develop commercial-use UOTTA-powered EVs, such as ride-hailing passenger EVs, small logistics EVs, light electric trucks, by adapting selected EV models with our UOTTA technology.

We also have cooperated with battery-swapping station manufacturers to jointly develop and manufacture UOTTA battery-swapping stations that are compatible with UOTTA-powered EVs, and have developed our two battery-swapping station factories in Zibo City, Shandong Province (commenced manufacturing in January 2022), and in Wuhu city, Anhui province (expected to commence production in 2023).

In addition, our data management platform, which can connect UOTTA-powered EVs and stations and assists the UOTTA-powered EV drivers in locating the closest compatible UOTTA swapping stations on their routes, is under development in order to provide a comprehensive battery power solution.

Management Team

+ Jia Li Chief Executive Officer, Director, and Chairman of the Board of Directors: Mr. Li has served as the Chairman of the Board of Directors and Chief Executive Officer of the Company since June 2021. Mr. Li founded our operative subsidiary, Youpin Automobile Service Group Co., Ltd., in July 2013, and has served as Executive Director of Youpin Automobile Service Group Co., Ltd. since May 28, 2014. Mr. Li has over 20 years of business experience in sales and marketing, and over 15 years in management in the automotive industry and the financial industry. From January 2011 to November 2013, Mr. Li was the Vice President at SAIC-GMAC Automotive Finance Co., Ltd.. From October 2009 to December 2010, Mr. Li served as the Vice President of Siemens Ltd., China, of its SIS North East Asia Financial Leasing services. From February 2009 to April 2009, Mr. Li worked at Hewlett-Packard Financial Leasing Co., Ltd. in China. From August, 1999 to January, 2009. Mr. Li holds a Master of Engineering degree in Computer Information Processing from Chinese Academy of Sciences, an Executive Master of Business Administration degree from Maastricht School of Management, and a Master of Finance from Renmin University of China.

+ Bingyi Zhao Chief Financial Officer and Director: Ms. Zhao has served as the Chief Financial Officer and a Director of the Company since February 2022. Ms. Zhao has over 10 years of experience in the financial sector. Ms. Zhao has served as the Chief Executive Officer of our operative subsidiary, Youpin Automobile Service Group Co., Ltd., since July, 2018. From November 2015 to April 2018, Ms. Zhao was the President of Investment Fund Division at Shanghai Huayue Equity Investment Management Co., Ltd, whose LP is a listed company in Hong Kong. From 2012 to 2014, Ms. Zhao served as the General Manager at Shanghai Kaihong Petroleum Holding Group, a member of the Shanghai Petroleum and Natural Gas Trading Center. From 2011 to 2012, Ms. Zhao was a Senior Consultant at the Plain Law Firm. From December 2008 to June 2010, Ms. Zhao worked at HSBC Bank (China) Company Limited. From April 2007 to October 2008, Ms. Zhao worked at Citigroup Data Processing (Shanghai) Co., Ltd. Ms. Zhao obtained her Bachelor’s degree in Finance from East China University of Political Science and Law in 2004.

Board of Directors

Name	Role
Jia Li	Chief Executive Officer, Director, and Chairman of the Board of Directors
Bingyi Zhao	Chief Financial Officer and Director
Xiaochun Li	Independent Director
Quanshi Chen	Independent Director
Bo Lyu	Independent Director

Jia Li

Chief Executive Officer, Director, and Chairman of the Board of Directors

Mr. Li has served as the Chairman of the Board of Directors and Chief Executive Officer of the Company since June 2021. Mr. Li founded our operative subsidiary, Youpin Automobile Service Group Co., Ltd., in July 2013, and has served as Executive Director of Youpin Automobile Service Group Co., Ltd. since May 28, 2014. Mr. Li has over 20 years of business experience in sales and marketing, and over 15 years in management in the automotive industry and the financial industry. From January 2011 to November 2013, Mr. Li was the Vice President at SAIC-GMAC Automotive Finance Co., Ltd. From October 2009 to December 2010, Mr. Li served as the Vice President of Siemens Ltd., China, of its SIS North East Asia Financial Leasing services. From February 2009 to April 2009, Mr. Li worked at Hewlett-Packard Financial Leasing Co., Ltd. in China. From August 1999 to January 2009. Mr. Li holds a Master of Engineering degree in Computer Information Processing from Chinese Academy of Sciences, an Executive Master of Business Administration degree from Maastricht School of Management, and a Master of Finance from Renmin University of China.

Bingyi Zhao

Chief Financial Officer and Director

Ms. Zhao has served as the Chief Financial Officer and a Director of the Company since February 2022. Ms. Zhao has over 10 years of experience in the financial sector. Ms. Zhao has served as the Chief Executive Officer of our operative subsidiary, Youpin Automobile Service Group Co., Ltd. since July 2018. From November 2015 to April 2018, Ms. Zhao was the President of Investment Fund Division at Shanghai Huayue Equity Investment Management Co., Ltd, whose LP is a listed company in Hong Kong. From 2012 to 2014, Ms. Zhao served as General Manager at Shanghai Kaihong Petroleum Holding Group, a member of the Shanghai Petroleum and Natural Gas Trading Center. From 2011 to 2012, Ms. Zhao was a Senior Consultant at the Plain Law Firm. From December 2008 to June 2010, Ms. Zhao worked at HSBC Bank (China) Company Limited. From April 2007 to October 2008, Ms. Zhao worked at Citigroup Data Processing (Shanghai) Co., Ltd. Ms. Zhao obtained her Bachelor’s degree in Finance from East China University of Political Science and Law in 2004.

Xiaochun Li

Independent Director

Ms. Li is an Independent Director. Ms. Li has over 20 years of experience in treasury management at international enterprises. Since October 2020, Ms. Li has served as the Director of Business Treasury at Nouryon Chemicals B.V., a global specialty chemicals company. From January 2007 to October 2007, Ms. Li served as the China Regional Treasurer of Nokia Siemens Networks. From October 2003 to November 2006, Ms. Li was Financial Treasury Manager at Siemens Financial Services Ltd. From May 2000 to September 2003, Ms. Li worked as a Senior Treasury Analyst at Hewlett-Packard Enterprise (China) Co., Ltd. Ms. Li holds a Bachelor’s degree in Accounting and Auditing from Shanghai University of Finance and Economics, and earned a Master’s degree in Business Administration at a program offered jointly by Shanghai Fudan University and BI Norwegian Business School.

Quanshi Chen

Independent Director

Mr. Chen is an Independent Director. Mr. Chen served as a Professor and PhD tutor at the College of Vehicles and Mobility, Tsinghua University from March 1970 to September 2010, and the honorary Director of the Electric Vehicle Branch of the Chinese Academy of Automotive Engineers since May 1997. Mr. Chen obtained his Bachelor’s degree in Automotive Engineering at Tsinghua University in March 1970, and served in the Department of Automotive Engineering from 1970 to 2010 in multiple roles, including the Department Chairperson from October 1994 to December 1997, the Deputy Director of the Automobile Research Institute at Tsinghua University from January 1998 to January 2004, and the Vice Dean of the School of Mechanical Engineering from July 1996 to September 2001. Mr. Chen also has served as the Director of the Electric Vehicle Branch of Chinese Society of Automotive Engineers from 1998 to October 2018, and the Deputy Director of Electric Vehicle Branch, Chinese National Automobile Standardization Technical Committee from October 1997 to December 2014. Mr. Chen served as the Deputy Director of the State Key Laboratory of Automobile Safety and Energy Conservation from July 2001 to December 2006. Mr. Chen has been serving as a Consultant for the Chinese National Automobile Standardization Technical Committee, Electric Vehicles Technology Sub-Committee since January 2015. His research focuses on the technological developments of electric vehicles, hybrid vehicles, and fuel cell vehicles. Mr. Chen has published over 30 papers in major national and international journals and conferences. Currently, Mr. Chen also serves as an Independent Director at Chongqing Changan Automobile Co., Ltd., a company listed on the main board of Shenzhen Stock Exchange, and Shenzhen Daotong Technology Co., Ltd., a company listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange.

Bo Lyu

Independent Director

Mr. Lyu is an Independent Director. Mr. Lyu has over 10 years of experience in corporate financing and public company management. From November 2021, Mr. Lyu has served as the Chief Financial Officer of Heyu Biological Technology Corporation. From August 2020 to October 2021, Mr. Lyu served as Financial Controller of Building Dreamstar Technology Inc. From December 2017 to April 2019, Mr. Lyu served as the Board Secretary of Dragon Victory International Limited (Nasdaq: LYL). From 2014 to August 2017, Mr. Lyu served as the Board Secretary of Hailiang Education Group Inc. (Nasdaq: HLG). From 2009 to 2013, Mr. Lyu worked as an Investment Manager at Hailiang Group Co. Ltd., the then-parent company of Hailiang Education Group Inc., Zhejiang Hailiang Co. Ltd. (SSE Listed: 002203), and Hailiang International Holding Co. Ltd. (HKSE listed: 02336). Mr. Lyu holds a Bachelor’s degree in International Investment from Wuhan University, and a Master’s degree in Finance from the National Economics Department of Albert-Ludwigs-Universität Freiburg. Mr. Lyu also holds the Certificate of Board Secretary from Shenzhen Stock Exchange and is a CFA II candidate.

Board Committee Composition

Director	Audit Committee	Compensation Committee	Nominating and Corporate Governance Committee
Xiaochun Li	(1)	(1)	(1)
Quanshi Chen	(1)	(1)	(1)
Bo Lyu	(1)	(1)	(1)

(1) Committee member

(2) Committee chair

(3) Audit committee financial expert