Shanghai Jinjiang Auto Services Co., Ltd. entered into an agreement 49.5% stake in Shanghai Volkswagen Xinya Taxi Co., Ltd. from Dazhong Transportation (Group) Co., Ltd. (SHSE:600611) for CNY 117.4 million on June 17, 2022. As of March 31, 2022, Total Assets were of CNY 164 million and Net Assets were of CNY 141.6 million. The transaction is subject to approval of offer by Shanghai Jinjiang Auto Services Co., Ltd. board.

As of June 17, 2022 Shanghai Jinjiang Auto Services Co., Ltd. board approved the deal.