Changan Auto bondholders approve share buyback, cancellation plan

Chongqing Changan Automobile Co., Ltd. held its first bondholder meeting of 2025 for its 2022 publicly issued corporate bonds for technological innovation (first tranche) to professional investors (22 Changan K1) from November 6 to November 12, 2025. The meeting, convened by CITIC Securities Co., Ltd., approved the "Proposal on Adjusting the Repurchase Price and Repurchase and Cancellation of Certain Restricted Shares under the A-share Restricted Share Incentive Plan" with 100% consent.

This approval follows resolutions on September 26, 2025, by its Ninth Board of Directors and Ninth Board of Supervisors, and on October 24, 2025, by its first extraordinary general meeting of 2025, to repurchase and cancel 1,161,948 restricted shares from incentive participants who have not yet vested. This action will reduce the company's total share capital and registered capital by RMB 1,161,948.

Beijing Zhonglun (Shenzhen) Law Firm confirmed that the convening, holding, and voting procedures of the bondholder meeting complied with relevant laws, regulations, and the "Chongqing Changan Automobile Co., Ltd. 2021 Bondholder Meeting Rules for 2022 Publicly Issued Corporate Bonds for Technological Innovation to Professional Investors." The firm affirmed the legality and validity of the meeting's resolutions.