On March 13, 2019, Huizhou Desay SV Automotive Co., Ltd. announced the closing of the acquisition of Antennentechnik ABB Bad Blankenburg GmbH (ATBB), an advanced antenna technology company based in Germany. This marks ATBB's formal joining into Desay SV as a wholly-owned subsidiary which will continue to work on customized solutions of high-performance antenna systems.

Located in Weimar, Germany, ATBB is an established antenna technology company with an experienced, dedicated and technologically advanced team. It has spearheaded the antenna market in Europe. Desay SV will continue the investment in ATBB to enhance its competitiveness in regional and global markets.

At the Day One ceremony, Desay SV's management, including Tan Choon Lim, Chairman of the Board, Yan Xiaoyang, Assistant to Chairman, Huang Li, General Manager of Central Technology, and Harald Moeglich, Managing Director of Desay SV Automotive Europe GmbH, closely communicated with ATBB's employees. Mr. Tan presented gifts from the headquarters to the ATBB's employees and attended two communication meetings with them. Regarding the concerns of the employees, Mr. Tan said that Desay SV commits to accelerate the ATBB further development and growth, to maintain current employment contracts and welfare, and to create more opportunities and values for the employees with the business growth.

Mr. Tan and Dr. Michael Weber, ATBB's Managing Director, met with Mr.Peter Kleine, Mayor of Weimar.

Desay SV's vision is to be the preferred partner of global automotive industry through innovation and supplying value professionally, said Mr. Tan. With the successful completion of the acquisition, Desay SV and ATBB will work together to open a new chapter, creating high-quality intelligent products, promoting the business of Intelligent and Connected Vehicles (ICVs), and tapping into the core value for global customers and users.

With Desay SV comprehensive product lines and diverse customer portfolio, ATBB will have the access to other new markets and segments to explore the new opportunities, boosting the business growth, said Dr. Weber.

The advanced intelligent antenna solutions of ATBB are of great significance to Desay SV's business strategy of developing ICVs. Moreover, ATBB's existing management system, talent team, R&D technology center, and market competitiveness will lay the foundation for Desay SV's global layout.