Xiamen Golden Dragon Automobile Group signed a framework agreement on equity transfer

Xiamen King Long Automobile Group Co., Ltd. announced that it has signed a "Framework Agreement on Equity Transfer" with Jialong (Group) Co., Ltd., planning to acquire the latter's 40% equity in Xiamen King Long Touring Vehicle Co., Ltd. The transaction price will be based on the appraisal price issued by the appraisal agency and must be approved and filed by the state-owned assets management department.