JAC Motors Plans to Invest in Huawei-Controlled Yinwang Intelligent Technology

JAC Motors announced in a statement that the company intends to invest in Yinwang Intelligent Technology Co., Ltd. Major shareholders of Yinwang include Huawei Technologies Co., Ltd. (holding 80%) and Seres Automobile Co., Ltd. (holding 10%). Currently, JAC Motors has not yet signed a formal investment agreement with the counterparty, and the transaction remains subject to uncertainties. The company has initiated negotiations with Yinwang and its shareholders, aiming to jointly support Yinwang’s development into a world-leading enterprise in automotive intelligent driving systems and components, as well as to build an open platform serving the automotive industry. Specific terms, including the investment amount, transaction structure, and pricing, will be determined by the final executed transaction documents. If the transaction is completed, Yinwang will become an equity investee of JAC Motors and will not result in any change to the company's consolidated financial statement scope.