1. Company equity difference: Guangqi Honda is a joint venture company established by Guangzhou Automobile Group and Honda Automobile Co., Ltd., and both parties hold the same shares. Guangzhou Honda is a wholly-owned subsidiary of Honda Motor Co., Ltd. in China.
2. Differences in management structure: The management of Guangqi Honda is composed of senior managers of Guangzhou Automobile Group and Honda Automobile, both of whom participate in decision-making and management. The management of Guangzhou Honda is composed of senior management personnel stationed by Honda, and the decision-making and management power is independently exercised by Honda.