Avatr completes acquisition of 10% stake in Shenzhen Evolving

Chongqing Changan Automobile's associate company, Avatr Technology, has completed the acquisition of a 10% equity stake in Shenzhen Evolving Intelligent Technology Co., Ltd. The total transaction amount for this acquisition was 11.5 bn yuan.

According to the "Equity Transfer Agreement," Avatr Technology made payments in three installments. The first installment of 2.3 bn yuan was paid on October 16, 2024, followed by the second installment of 5.75 bn yuan, which was completed by February 28, 2025. The final installment of 3.45 bn yuan was paid by the disclosure date of this announcement, and the ownership transfer was completed on March 31, 2025.

This transaction will not alter Chongqing Changan Automobile's consolidated financial statement scope, nor is it expected to significantly impact its short-term financial position or operating results. The company reiterated that the transaction does not harm the interests of Chongqing Changan Automobile or its shareholders.