Tianjin Jinxing Investment signed the share transfer agreement to acquire 1% stake in Beijing Electric Vehicle Co., Ltd from Shenzhen Jinggangshan New Energy Investment Management Co., Ltd for approximately CNY 320 million on September 8, 2017. Under the terms, Tianjin Jinxing Investment will acquire 53 million shares at CNY 6.1 per share. In related transaction, Shenzhen Oceanwide Yunteng Investment Partnership Enterprise (Limited Partnership) signed the share transfer agreement to acquire 1.89% stake (100 million shares) in Beijing Electric Vehicle Co., Ltd from Oceanwide Equity Investment Management Co., Ltd at CNY 5.3 per share and Daimler Greater China Ltd signed the equity acquisition agreement to acquire 3.93% stake (208 million shares) in Beijing Electric Vehicle Co., Ltd from Shenzhen Jinggangshan New Energy Investment Management Co., Ltd at CNY 3.05 per share on September 8, 2017. As of October 2017, Beijing Electric Vehicle had total assets of CNY 25.1 billion and shareholder’s equity of CNY 16.1 billion.