State Administration for Market Regulation announces FAW's acquisition of Zhongyu Technology's equity case.

The State Administration for Market Regulation has announced the acquisition case of China First Automobile Co., Ltd. acquiring the equity of Shenzhen Zhuoyu Technology Co., Ltd. China First Automobile has signed an agreement with New Territory and Zhuoyu Technology, planning to increase capital and acquire the equity of Zhuoyu Technology held by New Territory. Zhuoyu Technology is primarily engaged in advanced driver assistance systems business. Prior to the transaction, New Territory held 70.65% of Zhuoyu Technology's equity, and controlled Zhuoyu Technology separately. After the transaction, China First Automobile holds 35.80% of Zhuoyu Technology's equity, New Territory holds 34.85% of Zhuoyu Technology's equity, and both parties will jointly control Zhuoyu Technology.