GAC Group (02238) plans to issue shares to acquire part of the equity of a vehicle joint venture under FAW Group Corporation and raise matching funds. FAW Group Corporation will become the second largest shareholder.

Zhito Finance APP News, GAC Group (02238) announced that on September 14, 2026, the company signed a Letter of Intent Agreement with FAW Share. In order to promote the optimal integration of industrial resources between local state-owned enterprises and central state-owned enterprises, and to enhance the operating efficiency of the listed company, the company is planning to acquire, by way of issuing shares, part of the equity of a certain vehicle joint venture held by FAW Share, and to raise matching funds. Based on preliminary calculations, after the completion of this transaction, FAW Share will become the company's second largest shareholder with strategic influence; this transaction is expected to constitute a major asset restructuring and a related-party transaction, will not constitute a change in the company's actual controller, and will not constitute a restructuring listing.