Desay SV completes acquisition of ATBB

SINGAPORE - MediaOutReach - 15 March 2019 - On March13, 2019, Huizhou Desay SV Automotive Co., Ltd. announced the closing of theacquisition of Antennentechnik ABB Bad Blankenburg GmbH (ATBB), an advancedantenna technology company based in Germany. This marks ATBB's formal joininginto Desay SV as a wholly-owned subsidiary which will continue to work oncustomized solutions of high-performance antennasystems.

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

At theDay One ceremony, Desay SV's management, including Tan Choon Lim, Chairman ofthe Board, Yan Xiaoyang, Assistant to Chairman, Huang Li, General Manager of CentralTechnology, and Harald Moeglich, Managing Director of Desay SV AutomotiveEurope GmbH, closely communicated with ATBB's employees. Mr. Tan presented giftsfrom the headquarters to the ATBB's employees and attended two communicationmeetings with them. Regarding the concerns of the employees, Mr. Tan said thatDesay SV commits to accelerate the ATBB further development and growth, tomaintain current employment contracts and welfare, and to create moreopportunities and values for the employees with the business growth.

Mr. Tan and Dr. Michael Weber, ATBB'sManaging Director, met withMr.Peter Kleine, Mayor of Weimar.

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

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

Theadvanced intelligent antenna solutions of ATBB are of great significance toDesay SV's business strategy of developing ICVs. Moreover, ATBB's existingmanagement system, talent team, R&D technology center, and marketcompetitiveness will lay the foundation for Desay SV's global layout.