Recently, GAC HINO completed an equity change, resulting in GAC Group owning 89.72% of GAC HINO’s equity and becoming the largest shareholder. HINO Motors, Ltd. (hereinafter referred to as “HINO Motors”) and Guangzhou Qingyun New Energy Technology Investment Partnership (a limited partnership) (hereinafter referred to as the “Employee Shareholding Platform”) hold 4.83% and 5.45% of the equity, respectively.

On January 24, 2024，GAC Group made an announcement regarding the approval of the proposal on equity adjustment for GAC HINO. The proposal indicated that the equity adjustment significantly increased GAC Group's shareholding ratio in GAC HINO. This has injected new vitality into the transformation and development of the commercial vehicle sector, accelerating the transition to new energy commercial vehicles.

GAC Group, HINO Motors, and the Employee Shareholding Platform have jointly made capital increase of by approximately RMB 700 million. These funds will be allocated to key areas such as R&D in new energy technologies, product line expansion, and marketing. GAC HINO plans to increase its R&D investment in core areas, including new energy technologies (battery, electric drive, and electric control), hydrogen fuel cells, and autonomous driving technology. This will further promote technological innovation and breakthroughs, building on GAC Group's extensive experience in new energy vehicles.