Beiqi Foton Motor receives CNY 123.92m NEV subsidy

Beiqi Foton Motor (SSE:600166) announced it has received CNY 123.92 million in subsidies from the central government via the Beijing Municipal Finance Bureau, designated for promoting new energy vehicles (NEVs). The funds are allocated based on the "Notice of the Ministry of Finance on Issuing the 2025 Energy Conservation and Emission Reduction Subsidy Fund Budget (Batch 1)" (Cai Jian [2025] No. 77). The subsidy covers the settlement of NEV promotion and application subsidies for 2022 and prior years, as well as advance payments for NEV promotion in 2022. The company stated that the subsidy will not impact current profits but will directly reduce accounts receivable. The funds will positively impact the company's cash flow and reduce capital occupation. The final accounting treatment is subject to the auditor's annual audit confirmation. Beiqi Foton Motor has advised investors to be aware of investment risks.