Jianghuai Automobile: Plans to invest in Yingwang Intelligent Technology Co., Ltd., whose major shareholder Huawei holds an 80% stake.

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Jianghuai Automobile announced that the company plans to invest in Yingwang Intelligent Technology Co., Ltd. The counterparty is Huawei Technologies Co., Ltd., and the main shareholders of Yingwang Intelligent Technology Co., Ltd. include Huawei Technologies Co., Ltd. (holding 80%), Seres Automotive Co., Ltd. (holding 10%), and others. Currently, both parties have not signed a related investment agreement, and there is uncertainty. The company has initiated negotiations with Yingwang and its shareholders to join the investment in Yingwang, jointly supporting Yingwang to become a world-class leader in automotive intelligent driving systems and component industries, and to become an open platform serving the automotive industry. The specific investment amount, transaction method, transaction price, and other terms are subject to the final transaction documents signed by both parties. If this transaction is completed, Yingwang will become a company in which the company holds an interest, and the scope of the company’s consolidated financial statements will not change.

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