GRAND BAOXIN (01293): Xinjiang Guanghui, China Grand Automotive Services Group, Beijing Meiling, and Hainan Songbai have signed a cooperation framework agreement. Trading will resume at 1:00 p.m.

GRAND BAOXIN (01293) announced that on the morning of January 15, 2025, the company was informed by its controlling shareholder, Xinjiang Guanghui Industrial Investment (Group) Co., Ltd. ("Xinjiang Guanghui"), and China Grand Automotive Services Group Limited ("China Grand Automotive Services Group") ("Controlling Shareholder") that they had entered into a cooperation framework agreement with Beijing Meiling Qingyuan Entrepreneurship Investment Management Co., Ltd. ("Beijing Meiling") and Hainan Songbai Canglang Investment Partnership Enterprise (Limited Partnership) ("Hainan Songbai", collectively referred to as "Partners"). According to the cooperation framework agreement, the Partners will assist the Controlling Shareholder and its subsidiaries (including the Group) in the following areas: 1. Introducing strategic partners to achieve resource sharing; 2. Developing the second-hand car business and establishing a nationwide sales network; 3. Launching overseas automotive business and cooperating with local dealers; 4. Sharing land, property, and other resources to promote business operations. The duration of the cooperation framework agreement is one year, with automatic renewal if there are no disputes. The Board of Directors believes that the cooperation framework agreement was entered into by the Controlling Shareholder and the Partners in accordance with normal commercial terms after fair negotiation, and that such cooperation is beneficial and in the overall interest of the company and its shareholders. It is reported that Beijing Meiling is a limited liability company established in China, primarily engaged in investments. Its ultimate beneficial owner is Wu Shichun. Hainan Songbai is a limited partnership enterprise established in China, primarily engaged in investments. Its ultimate beneficial owner is Xiong Xiaoyan. At the request of the company, trading of the company's shares on the Stock Exchange was temporarily suspended from 9:11 am on January 15, 2025, pending the publication of this announcement. The company has applied to resume trading of its shares on the Stock Exchange from 1:00 pm on January 15, 2025.