Item 1.02 Termination of a Material Definitive Agreement.

The following previously announced proposed agreements have been terminated for the reasons set forth below:

Target: Smart Electric Quanzhou Taiwanese Investment Zone Management Committee Contract: Entered in MOU on September 13, 2013

Reason for Termination: Agreement expired and parties cannot come to agreeable terms.

Target: Kaisa Prosperity Holdings Ltd. Contract: Entered in Strategic Collaboration Agreement on July 11, 2019 Reason for Termination: Agreement expired and parties cannot come to agreeable terms.



Target: Golden Gate Qingmaio Scientific Contract: Entered in Cooperation
Agreement on January 23, 2019
Reason for Termination: Agreement expired and parties cannot come to agreeable
terms.
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Target: Golden Gate University
Contract: Entered in Technical Cooperation Agreement on January 23, 2019
Reason for Termination: Agreement expired and parties cannot come to agreeable
terms.

In 2021, we have dissolved the following subsidiary companies in China:

Vivic Corporation (Fujian) Co., Limited,

Guangzhou Khashing Yacht Company Limited,

Khashing Yachts Industry (Hainan) Limited, and

Shenzhen Cheng Tou Yacht Development Co., Ltd

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