Xiamen Xinda: Intends to sell 100% equity of Xinda Guomao Automobile for 793 million yuan.

Xiamen Xinda Announcement: The company and its wholly-owned subsidiaries intend to sell the automobile distribution business to ZTE Rely Automotive, a wholly-owned subsidiary of ZTE. The specific details of the transaction are as follows: the company will sell 100% equity of Xinda Guomao Automobile held by it for 793 million yuan; Xinda Hong Kong, a wholly-owned subsidiary, will sell 90% equity of Guomao Thailand Automobile held by it for 19.9214 million yuan; Xinda Singapore, another wholly-owned subsidiary, will sell 10% equity of Guomao Thailand Automobile held by it for 2.2135 million yuan. After the completion of the transaction, Xinda Guomao Automobile and Guomao Thailand Automobile will no longer be included in the company's consolidated financial statements. This transaction constitutes a related party transaction and still needs to be approved by the shareholders' meeting of the company.