Zotye Automobile shareholder auctions continue amid frozen holdings

Zotye Automobile's controlling shareholder, Jiangsu Shenshang, and its concert parties hold 1.158bn shares, representing 22.96% of the company's total share capital. Of these, 595m shares (11.80%) have been subject to judicial auction. This includes 1.96m shares (0.04%) from a first auction already concluded but not yet transferred, 6.74m shares (0.13%) from a second auction also concluded but pending transfer, and 381.69m shares (7.57%) from a first auction that failed and will be transferred to Jilin Jiutai Rural Commercial Bank.

Additionally, 130.25m shares (2.58%) held by Jiangsu Shenshang are scheduled for a second judicial auction from September 10 to September 11, 2025, with a starting price of 265.35m yuan, following an unsuccessful first auction. All shares held by the controlling shareholder and its concert parties remain judicially frozen.

The company emphasizes that these judicial auctions are forced executions and the final outcome will depend on the court's decisions. The potential impact on the company's controlling shareholder status remains uncertain, and Zotye Automobile will continue to monitor developments and fulfill its information disclosure obligations.