On February 22, Yan Boyu, CEO of Porsche China, responded to the recent rumors that Porsche would spin off and list, saying: “Porsche’s good profitability gives Porsche a good valuation, but about the spin off and listing, Volkswagen Group and Porsche group need to discuss and make a decision together, and Porsche China is not in a position to respond to this question for the time being.”

Hong Sheng, vice president and chief financial officer of Porsche China, further said that many new car building forces may be listed due to the lack of funds, while Porsche has always maintained high profitability with a return on sales of more than 15%.