Ningde Times responded to the liquidation cancellation of the joint venture GAC era: the company did not carry out actual business.

[Ningde Times responds to Joint Venture Guangzhou Automobile era liquidation cancellation: the company does not carry out actual business] the Ningde Times today responded to interface news on the liquidation and cancellation of the battery system company jointly owned by GAC GROUP. The main battery joint venture between the company and GAC is time Guangzhou Automobile Power Battery Co., Ltd. (hereinafter referred to as time Guangzhou Automobile). Time GAC supplies Guangzhou Auto with a range of products including batteries and battery packs (pack), and uses the state-of-the-art pack production line to improve delivery efficiency. Ningde Times said that GAC era Power Battery Systems Company (hereinafter referred to as GAC Times) was cancelled because it did not carry out actual business.