Desay SV Automotive sees leadership changes, share capital reduction

Huizhou Desay SV Automotive announced that Mr. Xu Jian resigned as a director and member of the strategy committee, while Mr. Ling Jianhui resigned as deputy general manager. Both will continue in their other roles as general manager and deputy general manager, respectively. Following these changes, Mr. Ling Jianhui was elected as an employee representative director and a member of the strategy committee.

The company also reported a share capital reduction due to the repurchase and cancellation of restricted shares from its 2021 incentive plan. A total of 33,340 restricted shares were repurchased from 22 incentive recipients who either left the company or did not meet performance targets. This will result in a corresponding reduction in the company's registered capital by CNY 33,340. Creditors are advised to submit their claims between December 23, 2025, and February 5, 2026.

These decisions were approved at the company's Fourth Board of Directors' Fifteenth, Sixteenth Meetings, and the Fifth Extraordinary General Meeting held on December 22, 2025.