HARMONY AUTO (03836) surged over 5% in afternoon trading. As of press time, the stock rose 5.39% to HK$1.76 with a trading volume of HK$4.9914 million.

On the news front, September 8 marked the opening day of the Munich Motor Show, where HARMONY AUTO's dual-brand flagship store featuring BYD COMPANY and Denza brands officially opened in Munich. This opening not only represents Denza's European debut but also serves as a key milestone in HARMONY AUTO's European market expansion strategy. Moving forward, HARMONY AUTO will continue deepening cooperation with BYD COMPANY, expanding dealer networks across Germany and other European countries to drive sustained growth and enhanced influence of the new energy vehicle industry in European markets.

Notably, HARMONY AUTO recently announced that BYD COMPANY has made a strategic investment in HARMONY AUTO's overseas new energy subsidiary ICAR, subscribing to approximately 10% of the company's shares for $40 million USD, becoming an important strategic shareholder. Following the transaction completion, HARMONY AUTO's stake in iCar Group will be diluted from 55% to 49.5001%. However, since the company continues to control 90.0001% of voting rights, iCar Group remains consolidated as a subsidiary of HARMONY AUTO.