Loncin Motor shareholder equity changes triggered by court ruling

Loncin Motor (SSE:603766) announced a change in major shareholders' equity, resulting from a Chongqing court-approved restructuring plan for Loncin Group and its affiliates. On March 18, 2025, approximately 122.11 million shares, representing 5.9462% of Loncin Motor's total share capital, were transferred from Loncin Holdings to 26 creditors, including the Chongqing branch of Bohai Bank. The transfer, executed via judicial deduction, doesn't trigger a change in Loncin Motor's controlling shareholder or actual controller. Following the transfer, Loncin Holdings retains 83.25 million shares, or 4.0538% of Loncin Motor’s total equity, all of which are pledged. The creditors receiving the shares will be restricted from selling them for six months.