Qingling Motors clarifies ultimate owners in repurchase deal

Qingling Motors Co. Ltd. has issued a supplemental announcement to clarify the ultimate beneficial owners of the Financial Leasing Company and the Dealer involved in its repurchase agreement dated 19 September 2025. The Financial Leasing Company is primarily owned by Chongqing City Transportation Development & Investment Group Co., Ltd. (99.2%) and Chongqing Expressway Investment Holding Co., Ltd. (0.8%). The ultimate beneficial owner of the Financial Leasing Company is identified as Chongqing State-owned Assets Supervision and Administration Commission, which holds a 91% equity interest in Chongqing City Transportation Development & Investment Group Co., Ltd.

Chongqing State-owned Assets Supervision and Administration Commission is a special agency of the Chongqing Municipal Government, responsible for investor responsibilities, supervising state-owned assets, and managing state-owned assets of municipally-owned enterprises. The Dealer is wholly owned by Mr. Li Shuibo, a Chinese merchant engaged in vehicle sales, new energy vehicles, vehicle repair, maintenance, and leasing services.

Qingling Motors confirmed that, to the best of the directors' knowledge, the Financial Leasing Company, the Dealer, and their respective ultimate beneficial owners are all Independent Third Parties.