[Forging Ahead in 2024] Farewell to the Rabbit, Welcome the Dragon

Time flies like a shuttle, and glorious chapters are renewed day by day. In the blink of an eye, we bid farewell to the challenging and rewarding 2023 and welcomed the hopeful 2024. Looking back, we have jointly witnessed the company's growth and changes; looking forward, we are full of confidence and expectation. In the new year, we will continue to commit to technological innovation and development, creating more value for users and society.

I. New Honors: The Best Proof of Corporate Strength

Over the past year, with outstanding product innovation and technical strength, the company successively obtained multiple honors such as Guangdong Province innovative small and medium-sized enterprise, national high-tech enterprise, national technology-based small and medium-sized enterprise and innovative small and medium-sized enterprise. It also passed the certification of the ISO27001 information security management system and the ISO20000 information technology service management system, as well as the re-review of the ISO9001 quality management system certification. These honors and qualifications are recognition of our company's achievements in technological innovation, product R&D and achievement transformation, and also an affirmation of the enterprise's degree of specialization, innovation capability and development potential. These honors not only strengthen Nikola Technology's confidence in future development, but also mean heavier responsibilities and expectations. In future development, Nikola Technology will hold itself to higher standards, continue to invest in R&D and innovation, and continuously improve technical level and product quality to meet the needs and expectations of customers and the market.

II. New Cooperation: The Bridge to Creating a Better Future Together

In 2023, our company achieved remarkable results in the field of emergency safety and the development of AI and VR/MR technologies. We continuously launched new products and solutions, providing more efficient and convenient services for customers such as power, emergency firefighting and higher education institutions. At the same time, we also strengthened our own R&D capabilities, actively explored new technology fields, and laid a solid foundation for future development. Over the past year, we faced market competition and challenges, but we always adhered to the principles of innovation, quality and service first, continuously optimized products and services, and won the trust and support of users. Relying on the company's high-quality products and technical services, we successfully won more than 20 emergency (power) safety training base projects from State Grid, China Southern Power Grid, emergency firefighting and other units. The winning and implementation of numerous projects marks that our company's years of R&D investment, achievement transformation and commercial application in the field of emergency safety have been fully affirmed, and also means that our company's competitiveness in the field of power safety has been further improved.

III. New Opportunities: Expanding Horizons and Showcasing Products

Over the past year, our company actively participated in various exhibitions to showcase the company's latest products, application achievements and technical strength. The exhibitions participated in include the Yangtze River Delta International Emergency Disaster Reduction and Rescue Expo, the China International Fire Equipment Technology Exchange Exhibition, the 2023 World VR Industry and Metaverse Expo and the 82nd China Educational Equipment Exhibition. At the 2023 World VR Industry and Metaverse Expo, Nikola Technology's booth attracted the attention of many visitors and media, and was interviewed and reported by People's Daily Online, New Rule of Law News, NetEase and other media, laying a solid foundation for the company's brand promotion and business expansion. Through in-depth exchanges with industry peers, our company obtained valuable suggestions and inspirations, providing new ideas for the enterprise's future development and product R&D.

IV. New Future: Industry-Academia-Research Promoting Industry-Education Integration

To further promote school-enterprise cooperation, support the integration of science, industry and education, and cultivate more outstanding talents in the emergency field, Nikola Technology actively carried out visits to research institutes and universities, successively going to relevant emergency safety research institutes in Beijing, Tianjin and Shanghai for learning and exchange, and visiting more than ten higher education institutions in Beijing, Guangdong, Jiangxi, Henan, Zhejiang and other places. These in-depth exchanges and communications not only helped Nikola Technology better understand the teaching and scientific research conditions of universities, but also provided valuable opportunities for both schools and enterprises to further explore cooperation in industry-education integration, virtual simulation training rooms and high-quality virtual reality courseware, laying a solid foundation for future school-enterprise cooperation.

V. New Engine: Promoting Enterprise Innovation and Development

Technological innovation is the core driving force of enterprise development. In 2023, our company cooperated with the Tianjin Fire Research Institute of the Ministry of Emergency Management to jointly apply for 3 science and technology projects of the National Fire and Rescue Administration of the Ministry of Emergency Management, including "Training Equipment and Course Development for Fire Rescue Stations for Middle School Students", "Immersive Simulation Fire Experience System" and "Research, Development and Application of Intelligent Simulation Training System for Practical Fire Rescue". The successful approval of these projects fully demonstrated Nikola Technology's professionalism and technological innovation capability in the emergency firefighting field. At the same time, our company also actively participated in multiple standard-setting work, including drafting the "Technical Standard for Virtual Reality Fire Safety Experience System" group standard of the China Fire Protection Association and the "Technical Standard for Virtual Reality Technology Display Methods and Equipment Usage in Science Popularization Venues" national standard. The release of these standards will provide strong support and guidance for the healthy development of related industries. In the future, our company will continue to actively participate in various standard-setting work to promote technological progress and standardized development of related industries.

Looking back on the past, we are full of emotion; looking forward to the future, we are full of confidence. In the new year, we will take innovation as the driving force, technology as the support and products as the core, serving customers wholeheartedly and meeting the diversified needs of the market. We will continue to deepen industry-education integration, take improving talent cultivation quality and technological innovation capability as the guidance, strengthen school-enterprise cooperation, jointly cultivate talents, and deliver more high-quality skilled talents for the development of the power industry. We will uphold a professional and rigorous attitude, continuously pursue excellent quality, keep exploring and advancing, inject technological vitality into the fields of emergency rescue and power safety training, and contribute to industry development!