Geely Automobile adjusts the equity structure of Ruilan Automobile

Ruilan Automobile was established in January 2022, with Zhejiang Jirun and Lifan Technology, subsidiaries of Geely Holding, each investing RMB 300 million, with a shareholding ratio of 50%. In June 2023, after Lifan Technology and Zhejiang Jirun jointly increased their capital in Ruilan Technology, Lifan Technology's shareholding ratio increased to 55%, while Zhejiang Jirun's shareholding ratio dropped to 45%.