On October 18th, Shandong Heavy Industry Group held a deployment meeting on 'Striving to Meet Annual Targets in Q4.' The meeting thoroughly studied and implemented the spirit of the Third Plenary Session of the 20th CPC Central Committee and the meeting of the Political Bureau of the CPC Central Committee on September 26th. It also fully implemented the decisions and deployments of the provincial Party committee and government, as well as the requirements of the third quarter economic operation analysis meeting of the provincial State-owned Assets Supervision and Administration Commission. The meeting summarized the group's economic operation in the first three quarters, analyzed the current internal and external situation, developed the work plans for the fourth quarter, and drive all work efforts to new levels of intensity, breakthroughs, and efficiency, fighting in the fourth quarter to unswervingly achieve all the annual targets. Man Shengang, Party Secretary and Chairman, attended the meeting and delivered a speech. Wang Zhijian, Deputy Party Secretary and President, reported on the Group's operation in the first three quarters and the targets for the fourth quarter, and signed performance target agreements with the heads of subsidiaries. Ye Jianjun, Deputy Party Secretary and Director, presided over the meeting.

Man Shengang highlighted that during the first three quarters, under the Provincial Party Committee and Government's leadership, the group achieved significant progress in market expansion, innovation, structural optimization, and operational efficiency. Despite various challenges and risks, the company maintained steady growth and built momentum for future development. The company maintained strong operational efficiency and industry-leading performance. It achieved a more balanced revenue structure of 4:3:3 across domestic operations, product exports, and overseas industrial segments. Strategic initiatives focusing on quality enhancement, innovation advancement, and cost optimization were systematically implemented. The group further solidified its competitive market position, with core products experiencing steady growth in market shares. International market performance showed remarkable momentum, particularly in premium segments where breakthrough progress was achieved. Strategic initiatives targeting market expansion, structural optimization, operational deployment, and brand enhancement were swiftly executed. The company continued to improve our management practices and strengthened corporate governance across the group. The company achieved notable progress in institutionalized, scientific, and standardized management practices. The corporate culture and party-building initiatives were comprehensive enhanced. Key 

programs included the ' One family, one heart, work together, surely succeed' educational campaign, the ' Emphasizing Virtue, Diligence and Integrity' cultural initiative, and the 'Building WeiChai Brand Excellence' themed activities. This has strengthened our leadership team unity and boosted employee morale throughout the company.

Man Shengang emphasized that the battle to achieve this year's targets is a must-win mission, and all employees must stay strategically focused, remain confident in our development path, and take proactive measures in their work. The company is resolutely winning the battle to stabilize and grow the domestic market. Through market-oriented strategies, quality focus and service excellence, the company has maintained its industry leadership while achieving consistent growth in sales and market share. Sinotruk has been also decisively winning the battle to expand its international business. The company is accelerating its transformation towards high-tech, high-quality, and high-value-added products. It has been shifting to selling product and solution packages and brand value, while deeply localizing operations to enable Chinese manufacturing to serve the global market. The company 

is firmly winning the battle to significantly enhance its product value. Benchmarking against industry leaders, Sinotruk is continuously strengthening its quality, innovation, and cost competitiveness, creating product advantages that are unmatched by competitors. Sinotruk is resolutely winning the battle to boost the momentum of its strategic transformation. It is accelerating the transformation of its new energy, digital intelligence, and aftermarket businesses, quickly building new growth drivers for the company. The company is determinedly winning the battle to improve management control and efficiency. It is actively benchmarking against and learning from the best, taking the lead in perfecting modern corporate governance with Chinese characteristics.

Man Shengang outlined that high-quality Party-building must guide the employees to be fully committed and united as one. By upholding Party leadership and cultural identity, Sinotruk is building a strong defense force, shouldering the mission of building a century-old enterprise, creating a world-class brand, and contributing to national rejuvenation. Party leadership principles are seamlessly woven into every aspect of the operations, from manufacturing and R&D to customer service. The company is fostering a team of passionate entrepreneurs, instilling the spirit of “forever diligent, forever at the forefront, forever striving for the first place”, as well as the standards of integrity, diligence, and incorruptibility. Sinotruk is also cultivating a caring ecosystem, truly caring for, relying on, uniting, and mobilizing all employees to unleash their centripetal force, cohesion, creativity, and fighting spirit. The company has established a comprehensive performance management system with clear accountability measures. This includes well-defined rewards and consequences to ensure all responsibilities are met. Each employee are held accountable with clear performance metrics and responsibilities. They are empowered and expected to take the lead, tackle major challenges, and deliver on the company's key operational targets - setting new historical highs across the board.

The executive teams of Weichai Group, Sinotruk, Shantui Co., Ltd., Weichai Lovol Intelligent Agriculture, and Zhongtong Bus delivered remarks.

Over 1,700 employees of Shandong Heavy Industry Group attended the meeting, including headquarters staff, subsidiary executives, senior managers, and overseas personnel.