GAC Group: Subsidiary Youpai Energy intends to sell 12% stake in Kunlun Blue Diamond.

Guangzhou Automobile Group announced that its subsidiary Yuipai Energy Technology Co., Ltd. intends to transfer 12% equity in Xinjiang Kunlun Blue Diamond Mining Development Co., Ltd. held by it at the evaluated price to the controlling shareholder Guangzhou Automobile Industry Group Co., Ltd., and the consideration for the transfer of equity is approximately 1.92 billion RMB. After the completion of this equity transfer, the company will still indirectly hold 8% equity of the target company through its wholly-owned subsidiary Yuipai Energy. This transaction constitutes a related party transaction and does not constitute a major asset reorganization.