Changan and Jiangling Group Jointly Take Control of Jiangling Holding

[Equity Transaction] Changan Automobile and Jiangling Group have received unconditional approval from the State Administration for Market Regulation for their joint acquisition of Jiangling Holding.

Key Development: Changan and Jiangling Group to Each Hold 50% Stake in Jiangling Holding

Jiangxi State-owned Assets Supervision and Administration Commission (Jiangxi Guokong) has split its 50% equity stake in Jiangling Holding into two parts: 25% has been transferred for consideration to Changan Automobile, and the remaining 25% has been transferred without compensation to Jiangling Group. Upon completion of the transaction, Changan Automobile and Jiangling Group will jointly control Jiangling Holding, and Jiangxi Guokong will fully exit.

Strategic Rationale: Restructuring the Joint Venture Framework to Revitalize Passenger Vehicle Operations

Jiangling Holding was established in 2004 and was originally equally owned (50% each) by Changan and Jiangling Group, focusing on the passenger vehicle market. In 2019, it encountered operational difficulties due to a sharp decline in sales of the Landwind brand. After bringing in external shareholders, it is now returning to an equal-shareholding structure between the two original partners, aiming to integrate resources and concentrate on developing its own brands.