Changan Minsheng APLL Logistics proposes 2026 connected transaction caps

Changan Minsheng APLL Logistics Co., Ltd. is setting more appropriate annual caps for its non-exempt continuing connected transactions for 2026. These include logistics services with Changan Automobile, CZAG, Minsheng Industrial, and financial services with Zhuangbei Finance. The proposed annual cap for logistics services to Changan Automobile and its associates is RMB8 bn for 2026, reflecting anticipated sales growth and new overseas production.

Similarly, the proposed annual cap for logistics services to CZAG and its associates is RMB400 m for 2026, driven by expected increases in automotive parts sales and expansion into intelligent logistics solutions. For services purchased from Minsheng Industrial, the proposed 2026 cap is RMB350 m, considering projected transaction amounts and an increase in waterway transport. The maximum daily deposit balance with Zhuangbei Finance for 2026 is proposed at RMB500 m, constituting a major transaction.

The company will also seek approval for continuing connected transactions exempt from independent shareholders' approval for 2026, including security, cleaning, and property leasing services with CZAG and logistics services with APLL and SIAMC. These transactions are subject to reporting, annual review, and announcement requirements.