Shuanghuan Driveline's controlling shareholders renew concerted action agreement

Zhejiang Shuanghuan Driveline Machinery Co., Ltd. (Shuanghuan Driveline) announced that its actual controllers—Wu Changhong, Chen Penghua, Chen Jianfeng, and Jiang Yiqing—renewed their "Concerted Action Agreement" on September 9, 2025. This renewal ensures the continued stability of the company's control by maintaining their "concerted action" status for another three years, effective from the same date. The original agreement, which established joint control and dictated a unified approach to significant operational matters, was set to expire.

The four shareholders collectively hold 117,209,672 shares, representing 13.80% of the company's total share capital. Specifically, Wu Changhong holds 59,968,992 shares (7.06%), Jiang Yiqing holds 29,115,240 shares (3.43%), Chen Jianfeng holds 27,325,440 shares (3.22%), and Chen Penghua holds 800,000 shares (0.09%). This agreement reinforces their commitment to act in concert on crucial decisions, including shareholder meeting proposals, director and supervisor nominations, and major operational matters.

The renewed agreement stipulates that, in case of any disagreement, Wu Changhong’s opinion will serve as the final decision. Additionally, the announcement clarified that shareholders Ye Shan Qun, Chen Penghua, Wu Changhong, Chen Jianfeng, and Jiang Yiqing are statutory close relatives, and Yuhuan City Yaxing Investment Co., Ltd. is indirectly controlled by the actual controllers. These parties are obligated to comply with regulations concerning concerted actions under the "Measures for the Administration of Takeovers of Listed Companies."