GAC Group: No formal agreement on the equity adjustment of GAC FCA has been signed

Shanghai Securities News China Securities Network News (reporter Yu Liyan) GAC Group announced on the evening of January 27 that the company paid attention to the official website of Stellantis Group: "It plans to increase the proportion of its shares held in the joint venture GAC FCA from the current 50% to 75%. GAC Group said that in recent years, due to the great difficulties in the operation of GAC FCA, the shareholders of the two sides of the joint venture have conducted in-depth communication and consultation on their joint venture cooperative operation and GAC FCA revitalization plan, and at present, the two sides have not signed a formal agreement on the adjustment of GAC FCA's equity.

GAC Group said in a statement: GAC Group learned from the official website of Stellantis about its release on the equity adjustment of GAC FCA. This announcement is not approved by us, and GAC Group deeply regrets it. Regarding foreign joint venture cooperation, GAC Group will strictly abide by national policies and regulations and promote it in accordance with the principles of mutual trust and win-win results.