Changan Automobile restructures ownership as China Changan becomes indirect parent

China Changan Automobile Group Company Limited (China Changan Automobile) has completed the transfer of 1,410,747,155 shares of Chongqing Changan Automobile Company Limited (Changan Automobile), representing 14.23% of the company's total share capital. This transfer, finalized on November 3, 2025, resulted from the division of China Ordnance Equipment Group Co., Ltd., which created China Changan Automobile as a new entity.

Following the division, China Ordnance Equipment Group no longer directly holds shares in Changan Automobile. China Changan Automobile now directly and indirectly holds a combined 35.04% of Changan Automobile's shares, becoming its indirect controlling shareholder. This transaction was exempt from a tender offer as it occurred between entities under the same ultimate control and did not alter the actual controller of Changan Automobile. This change is not expected to significantly impact the company's operations or its ability to repay bonds.

The related parties have committed to maintaining Changan Automobile's independence, compliance, and reduced related-party transactions. The company confirmed no changes to its main business, major asset restructurings, or employee arrangements are currently planned. Chongqing Changan Automobile also made some board and senior management changes as of August 2025 and modified its articles of association in September and October 2025.