In November, early winter quietly arrives, filled with warmth. Employees of BASR are full of enthusiasm, deeply cultivating domestic and international business fields, accumulating strength for the company's development, and exploring new paths.

1.Business Interactions
1.1 Domestic Business
(1) November 10-11, 2025: Recommended by BBAC, the third-party authoritative organization TUV Rheinland Germany conducted a special audit on our company’s VDA 6.8 logistics supply chain module. The BU1 quickly set up a special task force to coordinate throughout the process and successfully completed the audit. The audit results showed that our company fully meets BBAC’s production support requirements in core areas such as business processes and management systems. At the same time, the third-party organization provided professional improvement suggestions for some detailed optimizations. Currently, the BU1 is making every effort to implement these recommendations, ensuring that the entire process is closed by December 19.
This audit not only effectively enhanced the standardization of our business and the refinement of our management, but also further strengthened our cooperation foundation with BBAC, laying a solid guarantee for deepening collaboration and expanding cooperation opportunities in the future.

(2)November 25, 2025: The POSCO team visited the airport base, and the company leadership warmly welcomed them along with the BU1 team. Both parties fully recognized the achievements of the 2025 collaboration, openly discussed the issues on which consensus had not been reached, and listed them as key pending tasks. BASR introduced the warehouse AR system upgrade and strengthened management measures. Both sides agreed to leverage their respective strengths to jointly expand into overseas markets and address challenges in supply chain instability.

(3) November 20, 2025: Our laboratory staff visited Tianke Zongheng (Tianjin) Technology Development Co., Ltd. to introduce the laboratory's testing capabilities. The other party welcomed us and invited us to visit their factory, stating that they would convey the information and contact us if there were any needs. Our company also invited them to visit our company for exchange and guidance.

1.2 International Business

(1) November 18, 2025: The CSVC Sales Director Guo Lijie and his team visited BASR's Tianjin base, and company leaders along with the Vietnam team provided full reception throughout. The team conducted an on-site inspection of our production workshops, CTM constant temperature warehouse, and other core areas, highly recognizing our standardized management and forward-looking global perspective. Director Guo Lijie shared CSVC's channel resources and operational experience in the regional market, laying the foundation for cooperation. BASR has been deeply engaged in the supply chain field for over twenty years, complementing CSVC's strengths. This exchange focused on the strategy of 'deepening in Vietnam and radiating across Southeast Asia' based on the existing business of both parties, jointly determining three major cooperation directions and advancing the cooperation process.

(2) November 20, 2025: The BMW audit team visited our Hungary-based facility, accompanied by YSI, to complete the full-process testing of the Debrecen base. The entire testing process was smooth and well-coordinated. The BMW team acknowledged YSI's warehouse, operations, equipment, and transportation, while also提出 two optimization suggestions. Our company will complete the adjustments by November 30. This test validated YSI's capabilities and proactively eliminated potential risks, laying a solid foundation for cooperation. BMW will continue to inspect the covered train station and advance cooperation matters.

2.Management Improvement
2.1. November 17, 2025: Upon learning that the Beijing-Tianjin-Tanggu Expressway would be closed for construction in the Tianjin-to-Beijing direction, the project team coordinated with the transportation company to develop primary and backup plans, making subsequent dynamic adjustments to avoid transportation risks, ensure material delivery, and strengthen the foundation for BBAC’s production and supply security.
2.2. November 2025: The base organized all staff to participate in fire safety and special equipment drills, enhancing safety awareness and evacuation skills, enabling employees to proficiently use firefighting equipment, improving emergency operation capabilities of special equipment, standardizing accident handling procedures, testing the feasibility of plans, and strengthening departmental cooperation.

3.Cultural Development
3.1 November 12, 2025: In late autumn and early winter, upholding the virtues of respecting and helping the elderly and the spirit of charity, the company’s General Affairs Department, together with the labor union and party branch, organized three employee representatives to visit the Shijingshan Social Welfare Institute. The representatives delivered gifts and best wishes. Director Wang expressed gratitude and praised the company for its sense of responsibility, wishing the company continued success. Through public welfare, the company spreads warmth and contributes to building a harmonious society.

In November, the company made phased progress in business expansion, management optimization, and cultural development. As the year draws to a close, the company will focus on ensuring safety, quality, and service, and make every effort to achieve its annual targets.