Haima Automobile subsidiary secures loan from controlling shareholder

Hainan New Energy Sales, a subsidiary of Haima Automobile, has entered into a loan agreement with Haima Investment Group Co., Ltd., its controlling shareholder, for RMB 30 million. The loan, with an annualized interest rate of 3.10% and a 12-month term, is intended to repay outstanding supplier accounts and aims to optimize the company's financing structure and reduce costs. The transaction was approved by the company's board on October 24, 2025, with connected director Jing Zhu abstaining.

This transaction follows the company's capital increase in Hainan New Energy Sales, raising its stake from 50% to 51% on September 26, 2025, which reclassified Hainan New Energy Sales as a controlled subsidiary. Haima Investment Group Co., Ltd. holds 34.46% of Haima Automobile's shares. This related party transaction is expected to improve the subsidiary’s cash flow without requiring any guarantees from Haima Automobile or its other subsidiaries.

As of the reporting period, Haima Automobile has engaged in cumulative related party transactions amounting to RMB 18.793 million with Haima Investment. The independent directors approved the loan, citing its alignment with operational needs and market-based pricing. The company's financial report for the third quarter of 2025 indicates a total asset value of RMB 4.992 billion and a net profit of RMB 82,008.13 for the current period.