Zotye Automobile to sell shares to repay historical debts

Zotye Automobile Co., Ltd. will dispose of up to 151,276,432 shares, representing 3% of its total share capital, from a special account for asset disposition. This follows a previous announcement made on November 17, 2025. The disposal period will commence on December 9, 2025, after the judicial freeze on the account is lifted, and will last for three months.

The shares will be sold through both centralized bidding and block trading. Up to 1% of the company's total share capital will be sold via centralized bidding, while up to 2% will be sold through block trading. The company notes that these percentages may be adjusted for any share changes during the disposal period.

The proceeds from this disposition are intended to repay historical outstanding debts. Recipients of shares through block trading from this account will be subject to a six-month lock-up period, prohibiting them from reducing their holdings.