Genesis plans to increase investment in the Chinese market

Genesis plans to invest more resources in the Chinese market and officially start localization, although the cumulative loss in the first half of 2024 reached 3 billion yuan. Genesis plans to launch new energy products that meet the needs of Chinese consumers in the Chinese market in the next 3-5 years. To achieve this goal, Genesis will learn from the experience of brands such as Xiaomi, from the perspective of cost control and supply chain management, and rely on the group's existing production and management capabilities in China to achieve localized production. Genesis does not rule out the possibility of cooperating with suppliers such as Huawei in the future.