Itali Holdings (00720) signed a strategic framework agreement with B-On Global and Jiangsu Changzhou Economic Development Zone to jointly build a new energy mobile business ecosystem

According to Zhitong Finance App, Yidali Holdings (00720) announced that on August 20, 2026, B-On Global S.à r.l. (“B-On Global”), the company and the Jiangsu Changzhou Economic Development Zone Management Committee (“Jiangsu Changzhou Economic Development Zone”) signed a strategic framework agreement (“strategic framework agreement”). Based on this, the parties agreed to jointly develop a new energy mobile business ecosystem in Changzhou, Jiangsu Province, the People's Republic of China (“China”) as the first pilot site deployed nationwide.

According to the strategic framework agreement, (i) B-On Global will be responsible for selecting a well-known domestic and foreign consumer retail brand as its strategic partner; (ii) B-On Global and the company will be jointly responsible for completing the overall customization of mobile commercial vehicle design, artificial intelligence operating system development, vehicle manufacturing, sales and delivery, and subsequent operation and maintenance management; and (iii) Jiangsu Changzhou Economic Development Zone, as the core regional coordinator, will be responsible for coordinating regional resources in Changzhou to assist vehicles in compliant commercial operations and effectively connect asset parties and Terminal operator. The initial period of cooperation under the strategic framework agreement will be 3 years, which can be extended by agreement. Specific matters relating to vehicle sales, special leasing arrangements, revenue sharing, operation and maintenance services, global business development, and other related matters will be agreed separately by the parties through specific agreements.

As a result of the strategic framework agreement, Henderson Automotive Technology (Chongqing) Co., Ltd. (“Henderson Automotive Technology”), an indirect wholly-owned subsidiary of the company, signed a customized vehicle development contract with a wholly-owned subsidiary in the Jiangsu Changzhou Economic Development Zone on August 20, 2026. According to this, Hudson Automotive Technology was commissioned to carry out customized development, solution design, vehicle modification, prototype production and compliance adjustments for a pure electric intelligent mobile coffee shop.

The Jiangsu Changzhou Economic Development Zone is a Chinese government department responsible for managing the Jiangsu Changzhou Economic Development Zone. B-On Global Group is a European supplier of intelligent solutions for new energy commercial vehicles, providing comprehensive solutions for global urban mobility and logistics transportation. B-On Global entered into a conditional agreement with one of the company's major shareholders to acquire 1.3 billion shares of the company's shares. The deal is currently pending.