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JAC Motors addresses concerns on executive compensation, independence

March 19, 2025 at 05:02 AM UTCBy FilingReader AI

Anhui Jianghuai Automobile Group Corp (JAC Motors) has released a supplementary legal opinion addressing concerns raised by the Shanghai Stock Exchange regarding its 2024 plan to issue A shares to specific targets. The legal opinion, provided by Shanghai Tongli Law Firm, addresses questions about the independence of company management, specifically regarding Chairman and General Manager Li Ming, and Deputy General Manager Ma Cuibing, who had labor contracts and received compensation from the controlling shareholder, Jiangqi Holdings. The company addressed that these arrangements were not compliant, but had been rectified.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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