Tudatong is deeply integrated with NIO

NIO is Tudatong's largest single customer. In 2022, 2023 and the first nine months of 2024, Tudatong's revenue from NIO accounted for 88.7%, 90.6% and 92.4% of its total revenue respectively. This means that once NIO's sales fluctuate, Tudatong's performance will also be directly affected.