FAW Group Advances Plan to Acquire Stake in GAC Group; GAC Halted Trading All Day on September 14

September 14 — FAW Group is advancing plans to acquire a stake in GAC Group, according to two sources familiar with the matter. They revealed that, under the guidance of relevant authorities, FAW Group may obtain equity in GAC Group through asset transfers or similar methods, establishing a joint venture relationship between the two companies. The sources added that the specific method of investment could still change, and the eventual stake FAW Group will hold remains undetermined. On the morning of September 14, 2026, the Shanghai Stock Exchange (SSE) announced that GAC Group would be suspended from trading for the entire day due to an unannounced material event. A GAC Group spokesperson responded: “The suspension was implemented urgently on the morning of September 14, 2026, because an important announcement will be released after market close on September 14, 2026. The exact timing has not yet been confirmed, and we cannot disclose the content of the announcement at this time.” On September 11, the Ministry of Industry and Information Technology held a press conference to brief on the development of China’s intelligent connected new energy vehicle industry. Shao Ji, Deputy Director-General of the Industrial Development Department at the National Development and Reform Commission, stated at the conference that the government will actively support large enterprise groups in carrying out reforms and promote mergers and acquisitions among enterprises through market-oriented and law-based approaches. This includes supporting leading enterprises in effectively integrating R&D, production, and other resources to avoid homogenized competition in product design and technological development.