Zongshen Power announced that its shareholding company Zongshen New Smart Manufacturing has signed a "Restructuring Investment Agreement" with the management of 13 enterprises within the Loncin Group, participating in the substantial merger and reorganization of the 13 enterprises within the Loncin Group. Zongshen New Smart Manufacturing plans to use 3.346 billion yuan to acquire Loncin Motor's 504,172,175 shares, accounting for 24.5513% of Loncin Motor's total equity. On August 7, 2024, Zongshen New Smart Manufacturing received the Civil Ruling issued by the Fifth Intermediate People's Court of Chongqing Municipality, which ruled that 101,407,015 shares of Loncin Motor held by Loncin Holdings should be transferred to Zongshen New Smart Manufacturing. The shares account for 4.94% of Loncin Motor's total equity and are the Loncin Motor shares corresponding to the first restructuring investment payment made by Zongshen New Smart Manufacturing in this acquisition. Currently, Zongshen New Smart Manufacturing is steadily advancing the related work of acquiring Loncin Motor's controlling stake.
宗申动力：宗申新智造已完成第一笔重整投资款对应的隆鑫通用股份过户
Zongshen Power: Zongshen New Smart Manufacturing has completed the transfer of Loncin Motor corresponding to the first restructuring investment.
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