King Long Motor to vote on governance changes, auditor re-appointment

Xiamen King Long Motor Group will convene its fifth extraordinary general meeting of shareholders on December 30, 2025, to address several pivotal proposals. The company plans to abolish its supervisory board and revise its Articles of Association, transferring the supervisory board's functions to the board of directors' audit committee. This move aims to align with updated regulations and optimize corporate governance. Consequently, the "Supervisory Board Rules of Procedure" will be repealed, and current supervisors' appointments will terminate upon shareholder approval. The company also intends to amend various governance policies, including the "Shareholders' Meeting Rules of Procedure" and "Board of Directors' Meeting Rules of Procedure," to reflect these changes.

Additionally, King Long Motor seeks to supplement its estimated daily related-party transactions for 2025. Specifically, its subsidiary, King Long United Automotive Industry (Suzhou) Co., Ltd., anticipates an additional related-party transaction amounting to yuan 2,000.00 for logistics services provided by Fujian Blue Sea Logistics Co., Ltd.

Shareholders will also vote on the re-appointment of Rongcheng Certified Public Accountants as the company's auditor for the 2025 fiscal year. The proposed audit fee for the 2025 financial report is yuan 210,000, with an internal control audit fee of yuan 72,000, consistent with 2024. Rongcheng Certified Public Accountants has served as the company's auditor for six consecutive years since 2019.