Jiu Tai Rural Commercial Bank becomes largest shareholder in Zotye Automobile

Jilin Jiutai Rural Commercial Bank Co., Ltd. Changchun Branch has significantly increased its holdings in Zotye Automobile Co., Ltd., becoming the largest shareholder. This change stems from a court-ordered debt-for-equity transfer involving shares held by Jiangsu Shensun Holding Group Co., Ltd. Jiu Tai Rural Commercial Bank now holds 647,335,602 shares, representing 12.84% of Zotye Automobile's total share capital.

The equity increase was a consequence of a judicial ruling issued by the Changchun Intermediate People's Court of Jilin Province on October 15, 2025. This ruling mandated the transfer of 41,584,656 shares and 149,646,393 shares to Jiu Tai Rural Commercial Bank after public judicial auctions failed. The bank previously held 456,104,553 shares, or 9.05% of the company's stock.

Jiu Tai Rural Commercial Bank currently has no plans to further increase its stake in Zotye Automobile within the next 12 months. The bank has also stated there are no existing rights restrictions, such as pledges or judicial freezes, on its newly acquired shares.