On the evening of September 29, Seres announced that its wholly-owned subsidiary, Seres Auto, intends to purchase 10% of the equity in Shenzhen Yinwang Intelligent Technology Co., Ltd. held by Huawei Technologies Co., Ltd. in the form of cash payment, with the transaction amount being 11.5 billion yuan.
As of the date of disclosure of this announcement, the prerequisite conditions for the third installment payment stipulated in the Equity Transfer Agreement have been met. Seres Auto has completed the payment of the third installment of the transfer price of 3.45 billion yuan as agreed in the Equity Transfer Agreement, and Seres Auto has paid off the entire consideration for this transaction.