Tuopu Group reallocates capital, extends project, and sees early end to share sales

Ningbo Tuopu Group announced that its board of directors approved the reallocation of 400m yuan in raised capital to a new "Smart Manufacturing Industrial Park Project." This includes 300m yuan from convertible bonds originally earmarked for the "Annual Production of 3.3 Million Sets of Lightweight Chassis Systems" and 100m yuan from A-share issuance for the "Anhui Shouxian Annual Production of 300,000 Sets of Lightweight Chassis Systems and 500,000 Sets of Automotive Interior Functional Parts." The "Annual Production of 3.3 Million Sets of Lightweight Chassis Systems" project's completion date has also been extended from October 2025 to December 2026. The supervisory board concurred with these changes, noting alignment with strategic goals and improved capital efficiency. These changes are subject to shareholder approval at an extraordinary general meeting on October 10, 2025.

In a related development, the company's actual controller, Wu Jianshu, and vice-chairman, Wu Haonian, have decided to prematurely terminate their share reduction plan. Between September 1 and September 10, 2025, Wu Jianshu sold 2,998,262 shares, and Wu Haonian sold 495,300 shares, fulfilling their personal capital needs. The combined holdings of Wu Jianshu, Wu Haonian, and related parties decreased from 59.2548% to 58.4820%, triggering a 1% equity change disclosure.