Auto Italia (00720.HK) announced that it has acquired all the shares of Hudson Holding from three independent third parties. Hudson Holding and its subsidiary specialize in the research and development of electric vehicles, with a strategic focus on the electric car market in mainland China and Europe. They have obtained multiple important licenses/patents in Europe and have received orders for 81 electric cars from various car dealers in Europe. The acquisition is valued at approximately 0.166 billion yuan, which will be paid through the issuance of 61.9 million yuan of three-year zero-coupon promissory notes; and 0.8 billion shares, priced at 0.13 yuan per share, with a discount of 10.34% compared to the previous trading day (11th).