On June 10, Fast Eaton (Baoji) LD Transmission Co., Ltd and Fast Eaton (Xi 'an)  Drivetrain Company Ltd. held the board meeting through video. Mr. Yan Jianbo, Party Secretary and Board Chairman of Fast Group, Mr. Joao Faria, President of Eaton Vehicles Group and Ding Yingdong, Vice President of Weichai Power attended the meeting at Xi 'an, the United States and Shanghai respectively through the video. Mr. Wang Shunli, Mr. Guo Jinfu, Mr. Mark Schneider, Mr. Yang Bo, Mrs. Zhang Jie, Mrs. Wang Xiujv, Mr. Wang Yafeng and other relevant leaders also attended the conference.

After JVs’ reporting on work, Board Chairman, Mr. Yan Jianbo pointed out that with the joint efforts of both parties, the work of the joint venture company has been progressing smoothly, the clutch market has been continuously expanded and the capacity of LD transmission has been rapidly improved. It is hoped that both sides will further unify their thinking, cooperate with each other seamlessly, continue to increase R&D investment, and actively introduce high-end technology and management talents. In particular, it is necessary to deeply study and judge the current and recent market situation, be committed to improving the operation efficiency and quality, promote the JV to make new breakthroughs in all aspects, and create favorable conditions for achieving win-win development.

Mr. Joao Faria spoke highly of the fruitful cooperation between the two sides, and was full of confidence in the long-term development prospect of the JV. He encouraged the JV to adapt to the market globalization, constantly meet the market demand, and create newer and greater business performance.

The board of directors discussed and communicated about the production and operation, financial statements, technical management and 2020 operation plan of the JV in 2019, reached a consensus, and determined the time and place of the next board meeting.