Chang'an Automobile Co., Ltd. Yun Nei Dynamics and Development Securities Regulatory Commission requested withdrawal of application

Yunnei Power announced today that Chang'an Automobile Group recently received a letter from the China Securities Regulatory Commission, stating that due to the need to periodically clean up unprocessed documents, the Changan Automobile Group requested Chang'an Automobile Group to withdraw the Kunlun Yunnei Power Co., Ltd. acquisition report as soon as possible. "Records" and "Kunun Yunnei Power Co., Ltd. Approval of the Acquisition Acquisition Obligations Exemption (Simple)" application documents. Therefore, Changan Automobile Group will withdraw the above documents according to the requirements of the Securities Regulatory Commission.

The above short sentences are undoubtedly aggravating for Yunnei Power investors who are waiting for the inclusion of Changan Automobile Group.

According to public information, as early as December 28, 2010, Changan Automobile Group signed the "State-owned Property Rights Transfer Agreement for Yunnan Internal-combustion Engine Plant" with the State-owned Assets Supervision and Administration Commission of Kunming City, intending to allocate 100% of Yunnan Internal-Combustion Engine Plant owned by the State-owned Assets Supervision and Administration Commission of Kunming City. The property rights were transferred to the company without compensation. As Yunnan Internal Combustion Engine Plant holds 38.14% of Yunnei Power, after the transfer is completed, Changan Automobile Group will indirectly control the equity of 38.14% of Yunnei Power, and the actual controller of Yunnei Power will also change. For the China Ordnance Equipment Group, Changan Automobile Group also actively submitted to the China Securities Regulatory Commission the relevant application documents for the acquisition of the acquisition report and the exemption from the tender purchase obligation after the signing of the agreement on December 31, but did not expect that Subsequent to the beginning of the submission, Changan Automobile Group has entered a long wait.

From the announcement of Yunnei Power today, it can be seen that during the delays in application for Changan Automobile Group, the SASAC of the State Council has not issued corresponding approval documents for the transfer of Yunnei Power. This is also the delay in the Chang’an Automobile Group. The direct reason for completing the relevant collections also led to the withdrawal of the fate mentioned above. In today’s announcement, Chang’an Automobile Group did not explain whether it would resubmit the relevant application after it was withdrawn.

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