Loncin Motor(603766.SH) plans to transfer all its equity in JinYe Machinery.

Loncin Motor (603766.SH) announced that the company has signed an Equity Transfer Agreement with Guizhou Kexin Management Consulting Co., Ltd. ("Guizhou Kexin"), transferring 66% of the equity of Zunyi Jinye Machinery Casting Co., Ltd. ("Jinye Machinery") held by the company at a transaction price of 106 million yuan, based on the evaluation results of the evaluation agency. After this transaction, the company will no longer hold any shares in Jinye Machinery, and Jinye Machinery will no longer be included in the company's consolidated financial statements. This equity transfer is in line with the company's development strategy of "focusing on its core business", and is conducive to further optimizing the asset structure, concentrating advantageous resources to accelerate the development of the main business, improving the company's operational performance and asset quality, and is in line with the company's long-term strategic planning. This transaction will not affect the normal operation of the company's production and business activities.