Wolong Electric’s largest shareholder reduces pledged holdings

Zhejiang Wolong Shunyu Investment Co., Ltd. (Wolong Shunyu), the largest shareholder of Wolong Electric Drive Group Co., Ltd., has released a pledge on 24,000,000 shares. This represents 4.73% of its total holdings and 1.54% of the company's total share capital. The transaction, executed on November 12, 2025, involved shares previously pledged to the Industrial and Commercial Bank of China, Shangyu Branch.

Following this release, Wolong Shunyu's cumulative pledged shares now stand at 15,000,000, accounting for 2.96% of its total holdings and 0.96% of Wolong Electric's total share capital. Including shares held by Wolong Shunyu and its concerted parties, the total cumulative pledged shares amount to 15,000,000, representing 2.47% of their combined holdings and 0.96% of the company's total share capital.

Wolong Shunyu holds 507,358,176 shares, constituting 32.48% of the company's total share capital. The company has committed to disclose further information if these unpledged shares are subsequently used for re-pledging.