Exhibit 99.1
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no
representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities.
This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States (including its territories
and possessions, any state of the United States and the District of Columbia) or any other jurisdiction where such distribution is prohibited by law.
This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or in any
other jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Any public offering of our securities to be made in the United
States will be made by means of a prospectus that may be obtained from the relevant underwriters and that will contain detailed information about us.
(A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited
liability)
(Stock Code: 9868)
(1) ACQUISITION OF DIDIS SMART AUTO DEVELOPMENT BUSINESS ASSETS
(2) ISSUE OF CONSIDERATION SHARES TO DIDI
(3) STRATEGIC COOPERATION AGREEMENT WITH DIDI
(4) DISCLOSEABLE TRANSACTION
INTRODUCTION
For the purpose of forming a strategic
cooperation with DiDi Global Inc. (DiDi, or the Seller) with respect to the smart auto development business currently conducted by DiDi Group that develops, designs and engineers the New Smart EV Model
(Target Business), on 27 August 2023, the Company entered into the Share Purchase Agreement with DiDi and the Target HoldCo, pursuant to which the Company conditionally agreed to acquire and DiDi conditionally agreed to cause the
Target HoldCo to sell, the Target Shares which represent the entire issued share capital of the Target, for the Consideration Shares. Upon the Initial Closing, the Company would acquire the Target, which, together with its subsidiaries, is
contemplated to hold and own all Target Business Assets and be able to operate the Target Business as conducted by the DiDi Group as of the date of the Share Purchase Agreement and independently on a standalone basis (except for any transition
services or similar services contemplated by the Transaction Documents).
1