Wanxiang Qianchao: Promoting major asset restructuring, multiple tasks are in progress.

Wanxiang Qianchao announced that the company plans to purchase 100% equity of Wanxiang America Corp. held by Wanxiang America Corporation through issuance of shares and payment of cash, and to raise supporting funds, which will constitute related transactions and major asset restructuring. On April 30, 2024, the company signed an agreement with the transaction counterparty, and the board of directors approved the relevant proposal. As of the disclosure date of the announcement, due diligence, audits, evaluations, etc. are progressing, the transaction scheme is under negotiation, and formal documents have not been signed. This transaction still requires multiple procedures, and the results and time are uncertain.