King Long Motor to boost customer financing, appoint new director

Xiamen King Long Motor Group Co., Ltd. is set to hold its fourth extraordinary general meeting of 2025 on September 25, 2025, to address several key proposals. The company plans to increase its 2025 daily related-party transaction forecast by 3.6bn yuan. This includes purchasing products or services worth 1.5bn yuan from Fujian Southeast Automobile Trade Co., Ltd. via King Long United and 100m yuan via King Long Intelligent Technology. Additionally, the company intends to sell goods worth 1bn yuan each to Fujian Southeast Automobile Trade Co., Ltd. and Fujian Xinglian Auto Parts Development Co., Ltd. through King Long Intelligent Technology.

A significant agenda item is the proposal to increase the automobile financing guarantee quota provided by its subsidiary, Suzhou King Long Company. Due to a recovery in the bus market and increased demand for mortgage financing, Suzhou King Long is requesting to raise its guarantee quota for customers from 90bn yuan to 120bn yuan, an increase of 30bn yuan. This aims to enhance market competitiveness and drive sales revenue.

Furthermore, the company plans to appoint Huang Xunyou as a director for its eleventh board of directors, filling a vacancy. Huang, born in February 1971, is an engineer with a master's degree and currently serves as the party secretary and chairman of Fujian Automobile Industry Group Co., Ltd.