Luxun Precision: Plans to build a joint venture with Chery New Energy to engage in the research and development and manufacture of new energy vehicles

Luxun Precision announced on the evening of February 11 that the company and Chery New Energy intend to jointly establish a joint venture company, specializing in the research and development and manufacturing of new energy vehicles, providing cutting-edge R&D design, mass production platform and sea exit for The core parts business of Lixun Precision Automobile, and is committed to achieving the company's medium- and long-term goal of becoming a leading manufacturer of auto parts Tier1. The controlling shareholder, Lixun Limited, purchased 19.88% of the equity of Chery Holdings, 7.87% of the equity of Chery and 6.24% of the equity of Chery New Energy held by Qingdao Wudaokou for 10.054 billion yuan. After the completion of the transaction, Luxun Limited does not control Chery Holdings, Chery Shares and Chery New Energy.