Avita Technology plans to purchase Huawei's 10% stake in Yinwang for RMB 11.5 billion

On August 19, 2024, Avita Technology Co., Ltd., a joint venture of Changan Automobile, held a board meeting to review and approve the proposal to purchase 10% of the equity of Shenzhen Yinwang Intelligent Technology Co., Ltd. held by Huawei, with a transaction amount of 11.5 billion yuan. After the transaction, Avita Technology holds 10% of Yinwang and Huawei holds 90%.