Krypton intends to delist from the NYSE and will be completely merged with Geely Automobile.

Geely Automobile Holdings Co., Ltd. (hereinafter referred to as "Geely Automobile") announced that in order to promote the deep integration and efficient coordination of internal resources, put an end to repeated investment and reduce costs, Geely Automobile plans to acquire all the issued shares of Krypton. Geely Automobile currently holds about 65.7% of the shares of Extreme Krypton. If the transaction is completed, Extreme Krypton will be completely merged with Geely Automobile, and Extreme Krypton will become a wholly-owned subsidiary of Geely Automobile, privatize and delist from the NYSE.

Geely Automobile said that Geely Group will create a unified listing platform and fully integrate extremely valuable assets and resources, thus enhancing the competitiveness of the Group’s passenger car business. This will also help the Group to determine the future strategic direction of Krypton to meet the global market and economic challenges. As Krypton is a global luxury electric vehicle technology brand facing the high-end luxury market, it is of great strategic significance for the Group to wholly control Krypton.