According to the Zhitong Finance APP news, New Focus Auto (00360) issued an announcement, referencing the company's announcement dated August 14, 2024, which involves the freezing of the equity held by Qingdao Guorui in Shenzhen Daodu. This arrangement is related to a civil loan dispute lawsuit (“the lawsuit”) filed by Shenzhen Business Travel in their capacity as the applicant against Shenzhen Daodu and Qingdao Guorui.

As of the announcement date, Shenzhen Daodu holds all the shares of Hong Kong Daodu, which is the controlling shareholder of the company. Hong Kong Daodu holds 10.449 billion shares of the company, accounting for approximately 60.69% of the total issued shares.

On November 13, 2024, the company received a notice from Qingdao Guorui, informing that it has reached a settlement with Shenzhen Business Travel (as the plaintiff). On October 23, 2024, Shenzhen Business Travel applied to the Guangdong Province Shenzhen Intermediate People's Court (“the court”) to withdraw the lawsuit and lift the equity freeze. According to the withdrawal application, Shenzhen Business Travel indicated that it (as the plaintiff) has no lending relationship with Shenzhen Daodu or Qingdao Guorui, has not signed any contracts regarding loans or other debts, that Qingdao Guorui has not provided any guarantees or signed guarantee contracts for it (as the plaintiff), and that Shenzhen Daodu has no outstanding principal or interest or any unpaid obligations toward Shenzhen Business Travel, and Qingdao Guorui is not liable for any joint repayment obligations towards Shenzhen Business Travel.

As of the announcement date, Qingdao Guorui has received a court document dated November 1, 2024, which is the 'Civil Ruling', and a notification document dated November 12, 2024, for the 'Lifting of Seizure, Detention, and Frozen Property' ("court documents"). According to the court documents, the court has ruled to permit the lifting of the preservation measures on the frozen equity, and such lifting measures have been executed.

In light of the fact that Shenzhen Business Travel has filed a request for withdrawal and to lift the equity freeze, the court has ruled to permit Shenzhen Business Travel to withdraw the lawsuit and lift the preservation measures on the frozen equity. This lawsuit has had no impact on the group's control.