Qingling Motors enters repurchase deal for new energy vehicles

Qingling Motors Co. Ltd. announced on September 19, 2025, that it has entered into a repurchase agreement with a financial leasing company and a dealer. This agreement involves the repurchase of 51 new energy vehicles and corresponding leased debt rights, with the company providing repurchase obligations as a performance credit enhancement for its product sales. The estimated maximum aggregate repurchase price under this agreement is 9.424m yuan.

Under the agreement, Qingling Motors will act as the repurchaser for new energy vehicles leased by the dealer from the financial leasing company. The repurchase price includes overdue rent, principal of all undue rent, and the retention purchase price. The dealer is required to pay a repurchase deposit equal to 40% of the repurchase price to the company.

The transaction, when aggregated with previous repurchase agreements within the last 12 months, constitutes a discloseable transaction under chapter 14 of the Listing Rules, as the applicable percentage ratios exceed 5% but are less than 25%. This move aims to promote the sales of the group's new energy vehicles by shifting from a traditional sales model to a finance lease model.