It is reported that Zhuoyu Technology and FAW are discussing the latter's strategic investment, with a total equity transaction of more than US$800 million (approximately RMB 6 billion), and a post-investment valuation of more than 10 billion yuan. People familiar with the transaction revealed that in addition to the strategic investment of China FAW, this round of investment also involved other car companies and industrial funds. According to public information, FAW has been negotiating investment with the Zhuoyu team since last year, during which it evaluated various transaction plans. Although there have been rumors that FAW intends to control Zhuoyu, we understand that if this round of transactions can be successfully completed, Zhuoyu will still maintain its business and management independence, FAW will not achieve control or consolidated statements, and it and DJI are both important shareholders of Zhuoyu.