Volkswagen (China) Investment Co., Ltd. signed Share Transfer Agreement to acquire 5% stake in Gotion High-tech Co.,Ltd. (SZSE:002074) from Zhuhai Guoxuan Trading Co., Ltd. and Li Zhen for approximately CNY 1.4 billion on May 28, 2020. As per terms of transaction, Volkswagen (China) Investment Co., Ltd. will acquire approximately 25 million share of Gotion High-tech Co.,Ltd representing 2.2% stake from Zhuhai Guoxuan Trading Co., Ltd for approximately CNY 620 million and approximately 31.5 million share of Gotion High-tech Co.,Ltd representing 2.8% stake from Li Zhen for approximately CNY 786 million.