Loncin Motor sees state control reinforced through shareholding transfer

Management rights for Chongqing Development Industrial's 0.25% stake in Loncin Motor, representing 5,036,254 shares, have been transferred to the Industrial Guidance Fund, a subsidiary of existing major shareholder Chongqing Yufu Holding Group.

Following the transfer, the two state-backed entities collectively hold 323,745,949 shares, accounting for 15.77% of Loncin Motor's total share capital.