Fuao Co., Ltd. announced that the company received a notice from the controlling shareholder, the Provincial State-owned Assets Operation Group, to transfer 182 million A-shares directly held by the company and 331 million shares held by Tianyi Company to China FAW free of charge. After the free transfer is completed, the controlling shareholder of the company will be changed from the Provincial State-owned Assets Administration Group to FAW, and the actual controller will be changed from the Jilin Provincial State-owned Assets Administration Commission to the State Council's State-owned Assets Administration Commission. China FAW will collectively control 55.54% of the company's shares. As of the disclosure date of the announcement, this free transfer still required the signing of relevant agreements, compliance with state-owned assets supervision and approval, and centralized operator review procedures.

Fuao Co., Ltd. announced that the company received a notice from the controlling shareholder, the Provincial State-owned Assets Operation Group, to transfer 182 million A-shares directly held by the company and 331 million shares held by Tianyi Company to China FAW free of charge. After the free transfer is completed, the controlling shareholder of the company will be changed from the Provincial State-owned Assets Administration Group to FAW, and the actual controller will be changed from the Jilin Provincial State-owned Assets Administration Commission to the State Council's State-owned Assets Administration Commission. China FAW will collectively control 55.54% of the company's shares. As of the disclosure date of the announcement, this free transfer still required the signing of relevant agreements, compliance with state-owned assets supervision and approval, and centralized operator review procedures.