Xinquan Automotive Trim announces change in actual controller

Jiangsu Xinquan Automotive Trim Co. (SSE:603179) announced a change in its actual controller from Tang Aoqi and Tang Zhihua to Tang Zhihua alone, effective December 3, 2025. This change stems from the passing of Tang Aoqi on October 26, 2025, leading to the inheritance and gift of his equity in Xinquan Investment.

The spouse, Zhu Yuqin, renounced her inheritance rights and gifted her portion of Xinquan Investment shares to Tang Zhihua and Tang Meihua. As a result, Tang Zhihua's combined direct and indirect holdings now represent 27.26% of the company's total share capital, while Tang Meihua holds 8.13%.

This equity adjustment, which includes 64,848,321.72 shares indirectly obtained by the acquirers, constitutes 12.71% of the total share capital. The company clarified that this event does not alter the major shareholder and will not impact the company's operations, management, or financial independence, ensuring no detriment to minority investors.