QINGLING MOTORS (01122) announced that on January 14, 2026, the Company, the finance lease company (Chongqing Transportation Equipment Finance Lease Co., Ltd.), and various dealers entered into a total of five repurchase agreements with largely identical terms. The dealers are Chengdu Changdao Automobile Rescue Service Co., Ltd., Guangdong Changtong Technology Service Co., Ltd., Guizhou Changdao Road Rescue Service Co., Ltd., Yunnan Changtong Automobile Rescue Service Co., Ltd., and Chongqing Changtong Technology Service Co., Ltd. The subject matter of the repurchase consists of (i) the leased assets, which are a batch of new energy vehicles leased by all dealers from the finance lease company under the finance lease contracts, totaling 32 vehicles; and (ii) the lease receivables, which are the lease receivables held by the finance lease company against each dealer under the respective finance lease contracts corresponding to the leased assets (including overdue unpaid rent and the principal portion of all unexpired rent, but excluding other fees under the finance lease contracts, default penalties, compensation for damages, purchase option prices, etc.), as well as related rights established by the finance lease company to control the leased assets (including but not limited to the corresponding mortgage receivables established by the finance lease company on the relevant leased assets against each dealer).

After considering, among other factors, (i) the repurchase obligations provided by the Company under the repurchase agreements being a commonly adopted guarantee measure in the automobile industry's finance lease business, which is conducive to boosting the sales volume of the Company's new energy vehicles and expanding its sales scale and market share for new energy vehicles; (ii) the Company's right to monitor the leased assets through technological means such as the Internet of Vehicles, thereby reducing the risk of damage, loss, or destruction of the leased assets and the risk of dealers failing to return the corresponding leased assets to the Company; (iii) the Company's establishment of a digital supervision platform for vehicle operation to monitor the asset integrity rate, rental rate, utilization efficiency, and payment collection of the leased assets, and to share data with the finance lease company; (iv) the Company's expansion into second-hand vehicle sub-leasing or sales businesses, as well as aftermarket businesses such as vehicle reconditioning and remanufacturing, which will help promote the Company's expansion into the used vehicle business and increase revenue; (v) the requirement for each dealer to pay a performance bond to the Company under the repurchase agreements to offset any shortfall payments that the relevant dealer should pay to the Company; and (vi) the Company's ability to collect sales funds in full in advance, thereby enhancing the liquidity and flexibility of the Group's funds, the Directors consider that the terms of the repurchase agreements (including but not limited to the performance bond and the repurchase price) and the transactions contemplated thereunder are fair and reasonable, and in the overall interests of the Company and its shareholders.