Zotye Automobile: Shareholder equity changes amid judicial auctions

Zotye Automobile’s controlling shareholder, Jiangsu Shengsheng Holding Group Co., Ltd., and its concerted parties hold 1,158,000,000 shares, representing 22.96% of the company's total share capital. A substantial portion of these shares, specifically 786,290,927 shares (15.59% of the total share capital), have been judicially auctioned.

Among the auctioned shares, 1,964,546 shares (0.04% of total share capital) were successfully auctioned in the first round but are yet to be transferred, and 6,736,758 shares (0.13% of total share capital) were successfully auctioned in the second round but are also pending transfer. Additionally, 381,693,974 shares (7.57% of total share capital) from the first round of auction that went unsold will be allocated to Jilin Jiutai Rural Commercial Bank Co., Ltd. Changchun Branch, and are yet to be transferred.

The company recently learned that an additional 191,231,049 shares (3.79% of the total share capital) held by Jiangsu Shengsheng Holding Group Co., Ltd. are scheduled for judicial auction by the Changchun Intermediate People's Court of Jilin Province. The auction is set for September 30, 2025, to October 1, 2025, with a display price of 443,942,880.26 yuan. All shares held by the controlling shareholder and its concerted parties remain judicially frozen. The actual changes in equity are subject to final court execution, and there is uncertainty regarding whether these changes will affect the company's controlling shareholder status.