Zotye Auto released an announcement indicating that its wholly-owned subsidiary, Shenkang Company, has made the decision to enter into a settlement with Shanghai Automotive Gearbox Co., Ltd. (hereinafter referred to as "SAIC Gearbox Company") in connection with a sales contract dispute. Considering the real - world situation and the progress of the case, Shenkang Company has opted to resolve the matter through settlement with the other party. Recently, Zotye Auto received the "Civil Mediation Order" from the Intermediate People's Court of Linyi City, Shandong Province. This order mandates that SAIC Gearbox Company shall pay Shenkang Company a settlement amount of 29 million yuan within fifteen days of receiving the mediation order. Once Shenkang Company receives the payment, all disputes between the two parties concerning this particular issue will be fully and finally resolved, leaving no room for further disputes.