Hua Wang Motors responds to rumors of Guangzhou Automobile Group E an investment: Currently under further investigation.

Recently, GAC Group held a mobilization meeting for the development of the HUAWANG project. "HUAWANG, as a key move in deepening cooperation between GAC and Huawei, will leverage the advantages of 'GAC manufacturing + Huawei intelligence' to impact the high-end intelligent new energy vehicle market, and it is an important part of the 'Panyu Action' reform," said GAC Group Chairman Feng Xingya. In addition, there have been reports in the media recently that GAC Aion plans to invest in HUAWANG Automotive Technology Co., Ltd., with the equity stake not exceeding 30%. In response, HUAWANG Automotive stated: "We also saw this news online and are currently further investigating."