Zhongwei Group Co., Ltd. (stock code: 00751) announced on 15 March 2024 that its indirect wholly-owned subsidiary Shenzhen Chongwei Finance Leasing has signed a post-sale leaseback agreement with Nanjing Jinlong Bus Manufacturing Co., Ltd. Under the agreement, Shenzhen Chongwei Finance Leases will provide sale and leaseback services involving an amount of RMB120,000,000 (approximately HK$132,000,000). The transaction constitutes a continuing connected transaction, as Mr. Wong holds approximately 52.53% of the shares in the start-up group and indirectly controls the tenant. The applicable percentage of the transaction exceeds 0.1% but less than 5% and is processed in accordance with the declaration and announcement requirements of Chapter 14A of the Listing Rules, but is exempt from the approval of independent shareholders. The Board considers that this transaction is in the overall interests of the Company and its shareholders and will result in revenue and cash flow.

Zhongwei Group Co., Ltd. (stock code: 00751) announced on 15 March 2024 that its indirect wholly-owned subsidiary Shenzhen Chongwei Finance Leasing has signed a post-sale leaseback agreement with Nanjing Jinlong Bus Manufacturing Co., Ltd. Under the agreement, Shenzhen Chongwei Finance Leases will provide sale and leaseback services involving an amount of RMB120,000,000 (approximately HK$132,000,000). The transaction constitutes a continuing connected transaction, as Mr. Wong holds approximately 52.53% of the shares in the start-up group and indirectly controls the tenant. The applicable percentage of the transaction exceeds 0.1% but less than 5% and is processed in accordance with the declaration and announcement requirements of Chapter 14A of the Listing Rules, but is exempt from the approval of independent shareholders. The Board considers that this transaction is in the overall interests of the Company and its shareholders and will result in revenue and cash flow.