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        Core Power (Fujian) New Energy Automobile Co., Ltd (the “Company”), a subsidiary of the Core Power Group, is located in Puling Automobile Industrial Park, Yongan City, Sanming City, Fujian Province. The electric vehicle project covers an area of 330,000m2 and the construction of the four main factories for stamping, welding, surface treatment and final assembly costs RMB 1 billion. The factories have a combined annual production capacity of 100,000 cars. The principal activity of the Company includes the design, manufacture, assembly and sale of all-electric passenger vehicles and commercial vehicles, such as trucks and buses.

The Company works closely with Tsinghua University Suzhou Automobile Research Institute on the technical aspects of the vehicles produced. Innovation is key to the Company’s drive for stylish, yet safe and environmentally-friendly vehicles.
 
In October 2015, the Company signed a Memorandum of Understanding with Miyoshi Limited, a company listed on the Singapore Exchange since September 2000. With the completion of the joint venture in August 2016, Miyoshi is now the second largest shareholder of the Company.
 
With its headquarters in Singapore, Miyoshi Limited supports customers in more than 20 countries and has 1,000 employees in its manufacturing plants in the Philippines, Thailand, Malaysia, China (Wuxi and Huizhou), and Singapore. The principal activities of the Miyoshi include the design and manufacture of moulds and precision pressed parts, high-end electronics and investment properties in the Philippines and Malaysia.