On September 10th, HARMONY AUTO (03836) announced that BYD COMPANY (01211) has successfully completed the strategic investment transaction in Harmony Auto's overseas new energy ICAR subsidiary, marking the official transition of their partnership from operational collaboration to capital cooperation.

Previously, BYD COMPANY invested $40 million to acquire approximately 10% stake in Harmony Auto's overseas new energy ICAR company, establishing itself as a significant strategic shareholder. Since initiating their strategic overseas cooperation in October 2023, Harmony ICAR has successfully established and operated more than 100 BYD outlets across over 20 countries and regions in the Asia-Pacific and Europe, demonstrating exceptional international operational capabilities.

Just before the completion of the equity transaction, HARMONY AUTO made new progress in overseas expansion. On September 8th (German time), coinciding with the opening day of the 2025 Munich Motor Show, Harmony Auto's flagship store featuring both BYD and Denza brands officially opened in Munich, marking Europe's first Denza brand flagship store. This store opening signifies Denza's formal entry into the German premium market and adds an important strategic point to BYD's channel network in Europe.

Following this capital transaction, BYD COMPANY will comprehensively empower HARMONY AUTO to accelerate the implementation of overseas new energy development strategies. As HARMONY AUTO continues expanding its network and operations in core markets including Asia-Pacific and Europe, its position as BYD's overseas strategic partner will be further strengthened. In BYD's global strategy of accelerating overseas expansion, HARMONY AUTO's value is expected to be reassessed. The release of synergistic effects from their capital cooperation deserves continued market attention.