Webus International Issues Clarification on Prior Announcement Regarding Cooperation with Air China

Rhea-AI Summary

Webus International (NASDAQ: WETO) has issued a clarification regarding its previously announced cooperation with Air China. The company revealed that the actual agreement, signed on August 19, 2025, is limited to a Preferential Cooperation Agreement between its PRC subsidiary, Zhejiang Youba Technology Co., Ltd., and Air China's Hangzhou Branch Office.

The agreement specifically covers discounted Wetour-brand chauffeur and transfer services at Hangzhou Xiaoshan International Airport, exclusively for passengers with valid Air China tickets (beginning with 999). This clarification aims to correct any misunderstandings from the previous announcement's reference to a "strategic partnership," as there is no broader cooperation with Air China beyond this specific arrangement.

Positive

• None.

Negative

• Previous announcement potentially misled investors about the scope of Air China partnership
• Partnership is limited to only local airport transfer services in Hangzhou, not a broader strategic alliance

News Market Reaction

-1.32%

2 alerts

-1.32% News Effect

-9.2% Trough Tracked

-$671K Valuation Impact

$50M Market Cap

0.0x Rel. Volume

On the day this news was published, WETO declined 1.32%, reflecting a mild negative market reaction. Argus tracked a trough of -9.2% from its starting point during tracking. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $671K from the company's valuation, bringing the market cap to $50M at that time.

Data tracked by StockTitan Argus on the day of publication.

HANGZHOU, China, Sept. 10, 2025 (GLOBE NEWSWIRE) -- Webus International Limited (NASDAQ: WETO) (“Webus” or the “Company”), a leading provider of premium mobility and travel services worldwide, today issued the following clarification regarding its prior press release titled “WETO Signs Strategic Partnership with Air China.”

The Company acknowledges that the wording of its prior announcement may have led to misunderstandings and wishes to further clarify the cooperation in order to correct any confusion or inconvenience this may have caused investors or partners.

To clarify: On August 19, 2025, the Company’s wholly owned PRC subsidiary, Zhejiang Youba Technology Co., Ltd., entered into a Preferential Cooperation Agreement on Airport Pick-up/Drop-off Services for Air China Passengers with Air China’s Hangzhou Branch Office (the “Agreement”). The scope of this Agreement is limited solely to offering passengers holding valid Air China ticket numbers (beginning with 999) discounted Wetour-brand chauffeur and transfer services at Hangzhou Xiaoshan International Airport. The Company has no broader cooperation with Air China or any other branch offices beyond this specific arrangement.

References in the prior release to a “strategic partnership” were not intended to suggest a broader cooperation outside of the scope described above.

Forward-Looking Statements

This press release may contain forward-looking statements, including, among others, statements regarding the Company’s future business development plans, potential partnership opportunities, and anticipated benefits of the cooperation with Air China. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to, changes in market conditions, regulatory developments, technology integration timelines, and business execution. Additional risks are discussed in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), available at www.sec.gov. The Company undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or circumstances, except as required by law. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any security or digital asset.

Investor Relations Contact:
Annabelle Li
Investor Relations – Webus International Limited
Email: ir.annabelle@webus.vip

FAQ

What is the actual scope of Webus International's (WETO) agreement with Air China?

The agreement is limited to providing discounted Wetour-brand chauffeur and transfer services at Hangzhou Xiaoshan International Airport for Air China passengers with valid ticket numbers beginning with 999.

When did Webus International (WETO) sign the agreement with Air China's Hangzhou Branch?

The agreement was signed on August 19, 2025 between Webus's PRC subsidiary, Zhejiang Youba Technology Co., Ltd., and Air China's Hangzhou Branch Office.

Why did Webus International (WETO) issue this clarification about the Air China partnership?

Webus issued the clarification because their previous announcement's reference to a 'strategic partnership' may have led to misunderstandings about the scope of the cooperation, which is more limited than initially implied.

Which subsidiary of Webus International (WETO) is involved in the Air China agreement?

Zhejiang Youba Technology Co., Ltd., a wholly owned PRC subsidiary of Webus International, is the entity that entered into the agreement with Air China's Hangzhou Branch Office.