Jiangxi Special Electric: Controllers finalize indirect shareholding increase

Jiangxi Special Electric Motor Company Limited ("the Company") has announced the completion of its de facto controllers' indirect shareholding increase. This follows the company's disclosure on September 9, 2025, regarding a share transfer agreement. Beijing Wubaiyingli Technology Co., Ltd. ("Wubaiyingli Technology"), controlled by Wang Xin, one of the company's de facto controllers, had signed equity transfer agreements with 20 shareholders of Jiangte Electric.

These agreements involved the transfer of a combined 36.92% equity stake in Jiangte Electric, held by the 20 shareholders, to Wubaiyingli Technology. The initial industrial and commercial change for 19 individual shareholders of Jiangte Electric was completed by September 25, 2025.

As of the current announcement date, the industrial and commercial change related to the equity transfer of the remaining shareholder, Jiangxi Tianhao Investment Co., Ltd., a legal entity, has also been finalized. All 20 shareholders involved in this transfer have now completed the necessary industrial and commercial change procedures.