Zotye Automobile shareholder stakes transferred in judicial auctions

Zotye Automobile announced that its controlling shareholder, Jiangsu Deep Commercial, and its affiliates have had a cumulative 786,290,927 shares (15.59% of total share capital) judicially auctioned. Of these, 1,964,546 shares (0.04%) from a first auction have been transferred, and 6,736,758 shares (0.13%) from a second auction have been sold but not yet transferred. Additionally, 381,693,974 shares (7.57%) from a first auction, which were initially unsold, have been transferred to Jilin Jiutai Rural Commercial Bank Changchun Branch, with a further 74,410,579 shares (1.48%) from a second auction also transferred to the same bank.

As of the announcement date, Jiangsu Deep Commercial and its affiliates collectively hold 699,930,901 shares (13.88% of total share capital). The company reiterates that all shares held by its controlling shareholder and affiliates are currently frozen by judicial order. The total shares involved in the judicial transfers detailed in this announcement amount to 456,104,553 shares, representing 9.05% of Zotye Automobile's total share capital.

The company cautioned that these judicial actions could lead to changes in its controlling shareholder status, which remains uncertain. Zotye Automobile will continue to monitor these developments and ensure timely information disclosure to the market.