Wuchan Zhongda subsidiary lists on NEEQ, updates on litigation recovery

Wuchan Zhongda Group Co., Ltd. announced that its controlled subsidiary, Anhui Shunfu Precision Technology Co., Ltd. (Shunfu Precision), will officially list on the National Equities Exchange and Quotations (NEEQ) system, also known as the New Third Board, on December 9, 2025. Shunfu Precision will trade under stock code 875009 via competitive bidding in the Basic Layer. Documents related to its listing were disclosed on November 25, 2025.

In a separate development, Wuchan Zhongda’s subsidiary, Zhejiang Zhongda Yuantong Financial Leasing Co., Ltd. (Zhongda Leasing), received RMB 79,993,672.34 from the disposal of Hainan Haiyao shares. This is part of an ongoing lawsuit where Zhongda Leasing is seeking RMB 183,783,928.86, with RMB 51,224,676.00 still outstanding for which execution has been applied.

The lawsuit, initially filed in January 2024, involved Shenzhen Southern Same-Positive Investment Co., Ltd. and Hainan Haiyao Real Estate Development Co., Ltd. A settlement was reached in August 2025 for RMB 183,783,928.86. Execution was sought for the remaining amount after 66 million shares of Shaoyang Rural Commercial Bank Co., Ltd. pledged to Zhongda Leasing were frozen by another court. Wuchan Zhongda states the impact of this litigation on current and future profits is uncertain, as bad debt provisions were made in its 2024 annual report.