GAC Group (601238.SH) plans to issue shares to acquire part of the equity of a certain vehicle joint venture company held by FAW Group. Trading in its shares is suspended.

Zhito Finance APP News: GAC Group (601238.SH) announced that on September 14, 2026, the company signed a Letter of Intent with China FAW Corporation Limited (referred to as "FAW Share"). In order to promote the optimization and 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 supporting funds. According to preliminary estimates, 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.