Gotion High-Tech announced that Volkswagen (China) Investment Co., Ltd., a shareholder holding more than 5% of the company, plans to transfer 96.1804 million shares (5.30% of the total share capital) to Hefei Construction Investment Co., Ltd. The transfer has been approved by Hefei SASAC at a price of RMB 24.09 per share, with total consideration of RMB 2.317 billion. Upon completion, Volkswagen China's stake will decrease to 18.98%, while Hefei Construction Investment will become a shareholder holding more than 5%. The transaction still requires compliance confirmation from the Shenzhen Stock Exchange and registration of the share transfer.