Geely Automobile sells its stake in Geely Xinwanda

Geely Auto announced that its subsidiary Zhejiang Jirun and its affiliate Geely Auto Group have signed an equity transfer agreement with Zhejiang Jiyao to sell 41.5% and 28.5% of Geely Xinwangda's equity respectively, with the transaction amount of RMB 49.8 million and RMB 34.2 million. After the transaction is completed, Geely Auto will no longer hold any equity in Geely Xinwangda.