Keli Motor Group major shareholder's stake drops below 47%

Keli Motor Group announced its controlling shareholder, actual controller, and their concerted parties, including Nie Pengju, Nie Baosheng, and Guanxiang Fund, experienced a change in their combined shareholding, dropping below an integer multiple of 1%. From November 6, 2025, to November 24, 2025, their total holding decreased from 47.97% to 46.77% of the company's total share capital.

The change was primarily due to Nie Pengju's block trade reduction, the company's share repurchases through centralized bidding, and the exercise of some stock options from the 2024 incentive plan. This resulted in a net decrease of 9,184,200 A shares.

Despite the shift in ownership percentages, Keli Motor Group confirmed this change will not affect the company's control or its ongoing operational stability and equity structure. As of November 24, 2025, their combined total shares held amounted to 347,767,227.