Zhitong Financial News, Yongda Automobile announced that according to the equity transfer agreement signed recently, Shanghai Yongda Automobile Group Co., Ltd., an indirect wholly-owned subsidiary of the company, acquired the seller's 100% stake in two BMW 4S dealerships and two Lexus 4S dealerships in Jiangsu Province, China, from a company registered in the people's Republic of China and two natural persons (sellers). The total transfer price of the target equity is about 833 million yuan. As of the date of this announcement, the company has completed the transfer of control of the target company and the industrial and commercial registration change of the 100% stake in two BMW 4S dealerships and one Lexus 4S dealership and 66% of the equity transfer in another Lexus 4S dealership. The company will subsequently complete the industrial and commercial registration change of the remaining 34% stake in another Lexus 4S dealership. The company believes that the above acquisitions are in line with the company's development strategy, and this acquisition will strengthen the group's luxury brand portfolio, enable the company to expand its 4S dealership outlets and network coverage in the national region, and better serve the high-end customer resources in the above areas. and further enhance the company's ability to provide customers with "one-stop" all-round automobile-related services such as car sales and after-sales service. At the same time, it also helps to improve the returns of the company's shareholders.