New Focus Auto (00360) announced that according to the China Mainland National Enterprise Credit Information Disclosure System and Qingdao Guorui Chunxi Industrial Co., Ltd.'s written reply to the company, 100% equity of Shenzhen Daodu Industrial Co., Ltd., held by Qingdao Guorui, has been frozen for three years since July 18, 2024 due to the private lending dispute lawsuit filed by Shenzhen Shanglutong Network Technology Co., Ltd.

As of the date of this announcement, Shenzhen Daodu holds all the equity shares of the company's controlling shareholder, Hong Kong Daodu Industrial Co., Ltd. Hong Kong Daodu holds 10.449 billion shares of the company's issued shares, accounting for approximately 60.69% of the total issued shares of the company.

According to the written reply, Qingdao Guorui confirms that they have not signed any loan agreements with or provided any guarantees to Shenzhen Shanglutong, and have not signed any contracts regarding the loan or other debts of Shenzhen Daodu or any of its affiliates. They have not provided any guarantees for the loans or other debts of Shenzhen Daodu or any of its affiliates, nor have they issued any approvals for Shenzhen Daodu or any of its affiliates' loans or other debts. Qingdao Guorui also learned from Shenzhen Daodu that there was no loan agreement signed between Shenzhen Daodu and Shenzhen Shanglutong. In addition, Qingdao Guorui has submitted a reconsideration application to the court to request the lifting of the equity freeze. Therefore, Qingdao Guorui believes that the equity freeze will not pose any risk of change in control over the group.