On June 12, Gelunhui announced that according to the Equity Purchase Agreement, MLS and SLW have both met the relevant conditions for the completion of the transaction and signed the CLOSING MEMORANDUM on June 9, 2024. As of now, both parties have completed the 100% equity transfer of the target company, and the equity transfer became effective on June 9, 2024 Central Time. As of the date of this announcement, SLW has received a transfer payment of 11.3 million U.S. dollars.

The completion of this transaction is conducive to the company's further improvement of its layout in the core area of automotive manufacturing and the development of North American new energy automotive business. This transaction will have a positive impact on the company's future net income, increase the company's net assets, and further optimize the company's asset structure.