BYD plans to purchase lithium battery equipment from Shangshui Intelligent, and the transaction amount is expected to be no more than 1 billion

BYD and its subsidiaries plan to purchase lithium battery equipment from its joint-stock company Shenzhen Shangshui Intelligent Co., Ltd., and the estimated amount of related-party transactions is no more than RMB 101,535 million. Shangshui Intelligent is a related party of BYD because Mr. Li Qian, secretary of the board of directors of BYD, serves as a director of Shangshui Intelligent. Shangshui Intelligent was established in 2012 and is mainly engaged in the production, research and development, design, and sales of intelligent equipment, intelligent systems, and production lines. BYD holds 7.69% of its shares and is the company's fourth largest shareholder.