On March 17^th, GAC announced the latest progress in the mixed ownership reform of its wholly-owned subsidiary GAC Aion. According to the announcement, GAC Board of Directors deliberated over and approved the Proposal for implementing Employee Equity Incentives and Related Matters at GAC Aion, agreeing GAC Aion to implement equity incentives for employees by increasing capital through a non-disclosure agreement and allowing technical employees at GAC R&D Center to hold shares of GAC Aion. At the same time, strategic investors such as China Chengtong Group, China Southern Power Grid and Guangzhou Aian, which meet the requirements for the adjustment of state-owned capital structure, were introduced into GAC Aion. A total of 2.566 billion RMB was raised this time.