Jiangsu Xinquan Automotive Trim announces controller succession

Jiangsu Xinquan Automotive Trim Co., Ltd. has announced the completion of industrial and commercial change registration and filing procedures related to the change in its actual controller. Following the passing of Mr. Tang Aoqi on October 26, 2025, Mr. Tang Zhihua has become the new actual controller. This transition occurred through a combination of inheritance and equity gifts from Mr. Tang Aoqi's original holdings in Xinquan Investment.

The company’s controlling shareholder, Xinquan Investment, holds 24.93% of the company's shares. Mr. Tang Aoqi's 51% equity in Xinquan Investment has been re-registered under Mr. Tang Zhihua and Ms. Tang Meihua. As a result, Xinquan Investment's equity structure now sees Mr. Tang Zhihua holding 74.50% and Ms. Tang Meihua holding 25.50%.

Mr. Tang Zhihua now directly holds 44,324,060 shares, representing 8.69% of the company's total share capital, and indirectly holds an additional 18.57% through Xinquan Investment. This brings his total ownership to 27.26% of the company's total share capital. Ms. Tang Meihua directly holds 9,053,720 shares, representing 1.77% of the company's total share capital, and indirectly holds 6.36% through Xinquan Investment, for a combined total of 8.13%. The company states this change will not materially impact its operations or management.