QINGLING MOTORS CO. LTD (1122) announced that on 16 February 2026, it entered into a Repurchase Agreement with Chongqing Transportation Equipment Financial Leasing Co., Ltd. (the “Financial Leasing Company”) and Wuhan Xinxiang Anpeng Logistic Co., Ltd. (the “Dealer”). This agreement involves a finance lease model for purchasing five new energy vehicles, subject to a maximum aggregate repurchase price not exceeding RMB1.03 million.

Under the proposed arrangement, the Financial Leasing Company will act as lessor, while the Dealer will be the lessee. QINGLING MOTORS (1122) has agreed to act as the repurchaser of the vehicles and debt rights if certain default conditions occur. The repurchase obligations are designed to enhance credit assurance for the sales of the Group’s new energy vehicles.

According to the announcement, this transaction and several previous similar repurchase agreements within the past 12 months will be aggregated under Rule 14.22 of the Listing Rules. As the applicable percentage ratios exceed 5% but remain below 25%, it constitutes a discloseable transaction subject to notification and announcement requirements under Chapter 14 of the Listing Rules.

QINGLING MOTORS (1122) management noted that this repurchase arrangement follows the common practice in automotive finance lease transactions, aiming to boost sales of its new energy commercial vehicles and expand its footprint in the new energy market. The repurchase price was determined with reference to the principal amount of the vehicles’ undue rent, combined with the retention purchase price for each leased vehicle. The company highlighted that the arrangement is expected to increase its capital liquidity, and deposits from the Dealer are in place to mitigate repayment risks. The Directors regard the agreement as being in the best interests of the company and its shareholders.

The Financial Leasing Company is principally engaged in financial leasing and commercial factoring, while the Dealer specializes in road freight transportation and new energy vehicle sales. Both counterparties and their ultimate owners have been confirmed as Independent Third Parties. QINGLING MOTORS (1122) stated that it will continue to monitor asset conditions and debt recovery through IoT-based measures as part of its strategic approach to expanding the new energy commercial vehicle business.