Huayu Automotive: plans to acquire a 49% stake in SAIC Qingtuo for 206 million yuan.

HuaYu Auto announcement: The company plans to acquire a 49% stake in Shanghai SAIC Qingtao Energy Technology Co., Ltd., held by its controlling shareholder SAIC Group, for 206 million RMB. After the completion of this transaction, HuaYu Auto will hold 49% of SAIC Qingtao. This transaction constitutes a related party transaction but not a major asset restructuring. The funds for the transaction will come from the company's own funds, and the full consideration for the equity transfer will be paid in a lump sum through bank transfer within 15 working days from the delivery date. The purpose of this transaction is to supplement the "intelligent power" platform product matrix and achieve synergistic development between solid-state battery business, electric propulsion, and thermal management businesses. The target of the transaction is engaged in the research, development, and sales of semi-solid-state batteries and solid-state batteries.