Guangzhou Automobile Group (601238.SH) plans to issue shares to purchase some shares of an automobile joint venture held by FAW Co., Ltd., and trading of shares suspended

According to the Zhitong Finance App, Guangzhou Automobile Group (601238.SH) issued an announcement. On September 14, 2026, the company signed an “Intent Agreement” with China First Automobile Co., Ltd. (“FAW Co., Ltd.”). In order to promote the optimal integration of industrial resources between local state-owned enterprises and central enterprises and enhance the operating efficiency of listed companies, the company plans to purchase part of the shares in a vehicle joint venture held by FAW shares and raise supporting capital. According to preliminary estimates, after the transaction is completed, FAW Co., Ltd. will become the company's second-largest and strategically influential shareholder; this transaction is expected to constitute a major asset restructuring and related transaction, not a change in the actual controller of the company, or a restructuring and listing.

As of the announcement disclosure date, the transaction is still in the planning stage. There is uncertainty. In order to ensure fair disclosure of information, protect investors' interests, and avoid causing abnormal fluctuations in the company's stock price, according to the relevant regulations of the Shanghai Stock Exchange and upon application, trading of the company's A-share shares will be suspended from the opening of the market on September 14, 2026. It is expected that the suspension period will not exceed 10 trading days.