Xinquan's commercial vehicle business is expected to bottom out and increase its market share

Xinquan's commercial vehicle business is expected to achieve a bottom-up trend, mainly due to the cyclical growth in heavy truck sales of customers such as FAW Jiefang and Beiqi Foton in 2023, which has led to an increase in the company's gross profit margin. In the future, Xinquan plans to further penetrate other customers by expanding its product line and taking advantage of the opportunity of heavy truck upgrades to achieve a continuous increase in market share.