GAC Group has released an official statement, confirming that the 8th meeting of the 7th Board of Directors has approved a motion authorizing its subsidiary, GAC AION, to invest 600 million yuan in Huawang Automobile. Following this capital injection, GAC Group will directly own a 71.43% equity stake in Huawang Automobile, with an additional indirect stake of 28.57% through GAC AION.