Neusoft Reach and Honda China Establish Hynex Mobility Service, a New Joint Venture Company, to Accelerate Advancements Toward Next-generation Connected Services Business in China

SHENYANG,China,June 10,2020 -- Neusoft Reach Automotive Technology (Shanghai) Co.,Ltd. (Neusoft Reach) partners with Honda Motor (China) Investment Co.,Ltd.,a wholly-owned Honda subsidiary in China,for the establishment of a new joint venture company,Hynex Mobility Service Co.,Ltd. (Hynex Mobility Service). Hynex Mobility Service will strive to advance connected services and offer new value users can enjoy through their connected experiences,while placing the primary focus on Honda CONNECT,Honda's on-board connected system. Headquartered in Dalian,Liaoning Province,Hynex Mobility Service is scheduled to begin operations on July 1,2020.

Striving to realize its original smart mobility experiences filled with "FUN" in China,Honda has been accelerating advancements in the areas of electrification and ICV (Intelligent Connected Vehicles). Especially,in the area of connected services,Honda is positioning Honda CONNECT as an important platform which is indispensable in increasing the value of mobility in the future. As a part of its vision for advancing technologies for the next generation Honda CONNECT,Honda is pursuing three concepts: more connection; personal assistant; and enabling the continuous "growth" of the vehicle through updates. With these concepts,Honda is striving to realize mobility products which will "grow" together with their users and become a realizable partner to their respective users. For the early realization of such a future vision,Honda established Hynex Mobility Service jointly with Neusoft Reach.

Neusoft Reach,is an innovative company which delivers new value by integrating new technologies such as AI and big data while leveraging its strength in the software area. Moreover,Neusoft Reach has been working to offer a broad range of intelligent products,technologies,services and solutions for next-generation automobiles in various areas including intelligent connectivity,automated driving,electrified powertrains,mobility services and cyber security.

Established based on the strategic partnership between Honda and Neusoft Reach which leverages the respective strengths and resources of both companies,Hynex Mobility Service will develop strategies for next-generation connected services business with the primary focus on Honda CONNECT and conduct the development and offering of such services. Moreover,through the utilization of big data and AI,Hynex Mobility Service will develop and offer related technologies and services with the goal to realize new value through innovative and FUN-filled mobility services.

Comments by Katsushi Inoue,President of Honda Motor (China) Investment Co.,Ltd.

"It is our great pleasure to be able to accelerate our advancements toward next-generation connected services under the strategic partnership with Neusoft Reach. Based on our global vision to serve people worldwide with the 'joy of expanding their life's potential,' Honda has been realizing the FUNTEC WORLD through creating value for mobility and people's daily lives here in China. In this process,Honda and Neusoft Reach have developed a solid foundation for collaboration in various areas including research and development of electric vehicles and mobility sharing. Now,we will collaborate in the area of next-generation connected services and accelerate the creation of new value in FUN-filled mobility products while taking advantage of the respective strengths of the two companies."

Comments by Mr. Wang Yongfeng,President of Neusoft Corporation and Chairman of Neusoft Reach Automotive Technology（Shanghai）Co.,Ltd.

"Since its foundation,Neusoft Reach has been bringing about innovations and transformations to automobile industries and technologies with the goal to 'add new value to automobiles through software.' During the last several years,Neusoft Reach has been deepening its collaboration with Honda in various areas including the development of electric vehicles,mobility sharing,and newly added connected services. Neusoft Reach will demonstrate our strengths in the research and development of software for connected services and continue working with Honda to further expand the potential of mobility."

<About Hynex Mobility Service>

Company name

Hynex Mobility Service Co.,Ltd.

Location

Dalian,China

Executives

Chairman: Katsushi Inoue

Vice Chairman: Wang Yongfeng

President: Zhai Haitao

Executive Vice President: Naoki Hayashibe

Capital

300 million R.M.B.

Capitalization ratio

51% Honda Motor (China) Investment Co.,Ltd.

49% Neusoft Reach Automotive Technology (Shanghai) Co.,Ltd.

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