Wanxiang Qian Chao announced that the company plans to purchase 100% of Wanxiang America Corp.'s shares held by Wanxiang America Corporation and raise supporting capital by issuing shares to no more than 35 specific investors. As of the disclosure date of the announcement, due diligence, audit, evaluation, etc. are in progress, the transaction plan is being further negotiated, and the relevant parties have yet to sign the official transaction documents. The transaction still needs to be reconvened for review by the board of directors, reviewed by the shareholders' meeting, approved by the Shenzhen Stock Exchange, and registered by the Securities Regulatory Commission. There is uncertainty about whether and when it will be approved.

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