GAC GROUP (02238.HK): To Buy 50% of FAW Toyota via Share Issue; A Shares Resume Trading on 29 September

NewTimeSpace News: On 28 September 2026, Guangzhou Automobile Group Co., Ltd. (stock code: 02238) released an overseas regulatory announcement setting out its Shanghai Stock Exchange disclosure on the risk warning for the plan of acquiring assets by issuing shares and raising matching funds, and the resumption of trading: the Company intends to acquire a 50% equity interest in FAW Toyota Motor Co., Ltd. by issuing shares, and to raise matching funds by issuing shares to not more than 35 qualified specific investors (the Transaction).

Trading in the Company's A shares (stock code: 601238) was suspended from the market opening on 14 September 2026 pending the Transaction. On 28 September 2026, the 30th meeting of the seventh board approved the plan, its summary and other resolutions relating to the Transaction; upon application, A-share trading will resume from the market opening on Tuesday, 29 September 2026.

As the audit and valuation work for the Transaction is not yet complete, the board decided not to convene a shareholders' meeting for the time being; after completion of the audit and valuation, the Company will convene another board meeting and a shareholders' meeting in accordance with due procedures.

The announcement cautioned that the Transaction is subject to further board and shareholders' approval and to approval, clearance or registration by the competent regulatory authorities, which remains uncertain, and that the Transaction may be suspended, terminated or cancelled. The Company will continue to advance the Transaction after resumption of trading and strictly fulfil its information disclosure obligations.

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