Desay SV completes acquisition of ATBB

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SINGAPORE -�Media
OutReach�- 15 March 2019 - 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.

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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.