Public Transportation: Subsidiary Volkswagen Leasing intends to acquire 100% equity of Volkswagen Wanxiang, with a transaction price of 115 million yuan.

Sina Finance reported on March 30th that the announcement of Volkswagen Group stated that its wholly-owned subsidiary, Volkswagen Car Rental Co., Ltd., intends to purchase 100% equity of Shanghai Volkswagen Wanxiang Automobile Repair Co., Ltd. held by its related party Shanghai Volkswagen Enterprise Management Co., Ltd. The transaction price is based on the evaluation result of the "Asset Evaluation Report", with a transaction consideration of 115 million yuan. The transaction has been approved at the fourth meeting of the Independent Directors' Special Meeting of the Eleventh Board of Directors and the twelfth meeting of the Eleventh Board of Directors of the company, without the need for shareholder approval. This transaction still requires the completion of business registration change procedures.