Group 1 - GAC Group's board approved an investment of 600 million yuan in Huawang Automotive, increasing its direct ownership to 71.43% and indirect ownership through GAC Aion to 28.57% [1] - Huawang Automotive's city recruitment plan has been launched, prioritizing 40 cities including Beijing, Shanghai, and Shenzhen, with a "1+N" channel model for network layout [3] - Huawang Automotive is a collaboration between GAC and Huawei, aiming to create a new high-end smart electric vehicle brand, with the first model expected to launch in 2026 targeting the 300,000 yuan market [3] Group 2 - The investment in Huawang Automotive is seen as a continuation of GAC Aion's partnership with Huawei, which began with the AH8 project for a mid-to-large smart electric SUV, initially planned for production by the end of 2023 [4] - In March 2023, GAC announced a shift from joint development with Huawei on the AH8 project to independent development, with Huawei remaining a key supplier [6] - GAC's management emphasized that the change in project development strategy does not indicate a deterioration in the partnership with Huawei, which remains a strategic ally [6]