Zotye automobile: controlling shareholder's shares fail to sell in second auction

Zotye Automobile announced that 130,254,021 shares of its controlling shareholder, Jiangsu Shenshang Holdings Group Co., Ltd., failed to sell in a second judicial auction held from September 10 to September 11, 2025. This block of shares represents 2.58% of the company's total share capital. As of the announcement date, Jiangsu Shenshang and its concerted parties hold 699,930,901 shares, accounting for 13.88% of Zotye Automobile's total share capital. All shares held by Jiangsu Shenshang and its concerted parties remain judicially frozen.

The latest auction failure is part of ongoing judicial enforcement actions against the controlling shareholder. Previous judicial auctions include 74,410,579 shares (1.48%) sold to Jiutai Rural Commercial Bank, 6,736,758 shares (0.13%) sold to Xin Yu Gaoxin District Yigu Dingyuan Enterprise Consulting Center (Limited Partnership), and 37,326,381 shares (0.74%) and 1,964,546 shares (0.04%) from Shenzhen Guomin Digital Information Technology Co., Ltd. (a concerted party) sold to Jiutai Rural Commercial Bank and Xu Hanbing, respectively.

Zotye Automobile emphasized that actual changes in shareholding are subject to final court execution. The company will continue to monitor developments and ensure timely information disclosure.