DARE AUTO acquired Carcoustics Germany

Fuxin Dare Automotive Parts Co., Ltd. (hereinafter referred to as "the Company" or "Dare Auto") is currently mainly engaged in automotive steering pumps, gear pumps, automatic transmission oil pumps, electric power steering system (EPS) motors, and etc.

The research and development, production, and sales of products such as liquid pumps and keyless entry and start systems. The overall strategy of the company's development is to take "specialized automobiles" as the guiding ideology, Jujia electric pump technology, and actively expand the application scope of pumps, motors, and automobiles in the automotive field with the trend of electronic, intelligent, and lightweight development around the automotive industry, achieving the company's development from component products to platform based, integrated, and systematic products. In order to effectively implement its development strategy, the company completed a major asset restructuring and successfully acquired assets on May 26, 2017.

CCI Germany, a German company, is mainly engaged in the research and development, production, and sales of acoustic control and thermal insulation products. 95% of its products are applied in the automotive industry, mainly including automotive vibration and noise reduction products, thermal insulation products, structural reinforcement components, etc., with a small amount applied in consumer goods and industrial fields. As a professional provider of automotive sound insulation products, CCI has long served world-class automotive groups such as Mercedes Benz, BMW, Audi, Ford, Volkswagen, and Renault Nissan. Reporting period

Within the company, CCI accounts for over 50% of its sales to the top five customers, including Daimler, Audi, Volkswagen, BMW, and Ford. This overseas merger and acquisition is an important step for Del Group, guided by the principle of "focusing on automobiles", adhering to the dual wheel drive of endogenous and exogenous, focusing on the requirements and trends of electronicization and lightweighting in the automotive industry, and actively promoting product diversification and market globalization strategies. It not only helps to strengthen the domestic and international synergy of the company's products and markets, but also is an effective way for the company to quickly integrate into the global automotive parts market; This merger and acquisition will greatly enhance the company's global competitiveness in major areas, in line with the overall strategy of building the company into an international first-class supplier of automotive component systems; At the same time, this acquisition is also an important strategic measure for Del Group to actively respond to the national development strategy and participate in international cooperation and competition.