Group 1 - The core issue revolves around the controversy of GAC Aion's employee stock ownership plan, which was implemented during a rapid growth phase in the electric vehicle market in 2022, with a five-year lock-up period for participating employees [1][2] - GAC Aion's employee stock ownership plan involved 679 employees and 115 technology personnel from GAC Research Institute, contributing nearly 1.8 billion yuan for a 4.55% stake, aimed at retaining key talent [1] - GAC Aion's IPO plans have been put on hold due to unfavorable market conditions, with the focus now on increasing the company's valuation before considering capital operations [2][3] Group 2 - GAC Group has experienced a decline in sales and performance, prompting a deep internal reflection and the initiation of a three-year "Panyu Action" reform to shift from strategic control to operational management [2][3] - The company is implementing several reforms, including creating an operational headquarters, integrating self-owned brand operations, and introducing an integrated product development (IPD) process to enhance product competitiveness [3] - GAC aims to achieve over 60% of total sales from self-owned brands by 2027, targeting a sales volume of 2 million units, while navigating the transition to electric vehicles [4]