SERES Announces Investment of RMB 11.5 Billion to Purchase 10% Equity in Yinwang Intelligent, a Subsidiary of Huawei's Intelligent Vehicle Solutions

Seres Group Co., Ltd. ("Seres") announced on August 25 that it had signed a conditional equity transfer agreement with Huawei and Yinwang Smart, planning to purchase Huawei's 10% equity in Yinwang Smart. The transaction amount is RMB 11.5 billion. Seres Chairman Zhang Xinghai said that this investment marks the upgrade of the cooperation between Seres and Huawei and opens a new starting point for the cooperation between the two parties.