Beijing Yitang Shenglong Semiconductor Industry Investment Center (Limited Partnership) entered into an agreement to acquire 43.63% stake in Beijing New Energy Vehicle Technology Innovation Center Co., Ltd. from BAIC Motor Corporation Limited (SEHK:1958), Beijing Electric Vehicle Co., Ltd, Beiqi Foton Motor Co., Ltd. (SHSE:600166) and Beijing Hainachuan Automotive Parts Co., Ltd. on July 15, 2022. The consideration for the disposal of 12.02% the Equity Interests in National Innovation Center payable to BAIC Motor Corporation Limited is CNY 67.6 million for 12.02% stake, consideration payable to Beiqi Foton Motor is CNY 67.6 million for 12.02% stake, consideration payable to Beijing Electric Vehicle Co., Ltd is CNY 69.6 million for 12.38% stake. Beijing New Energy Vehicle Technology Innovation Center recorded net loss after tax of CNY 49.7 million as of December 31, 2021.