DEEWIN (02418) announced that on December 30, 2025, the company's board of directors reviewed and approved a proposal to implement the conversion of 538 million domestic shares held by its shareholder, Shaanxi Automobile Group Co., Ltd., into the company's H-shares (H-share full circulation). This represents approximately 24.67% of the company's total issued share capital as of the date of this announcement.

The H-share full circulation is still subject to obtaining all relevant approvals before it can be implemented. These approvals include the filing for the H-share full circulation, the aforementioned conversion of the company's domestic shares into H-shares, and the approval from The Stock Exchange of Hong Kong Limited for the listing and trading of the relevant H-shares on the Main Board of the Exchange.

As of the date of this announcement, the company has not yet submitted the application filing documents for the H-share full circulation to the China Securities Regulatory Commission, nor has it applied to the Stock Exchange for the conversion and listing.

According to the company's articles of association, the conversion and listing do not require approval from the shareholders' general meeting.