ZOTYE Automobile announced the progress of the judicial auction of part of the shares of its controlling shareholder

ZOTYE announced on October 9 that as of now, the controlling shareholder Jiangsu Shen Shang and its concerted parties hold 562,940,112 shares of the company, accounting for 11.16% of the total share capital, and all shares are subject to judicial freezing. The 191,231,049 shares held by Jiangsu Shen Shang were unsold in the first auction; the 130,254,021 shares previously held were transferred to Jilin Province Houtu Lande Investment Co., Ltd. after failing to sell in the second auction, and the company has not yet received the relevant enforcement ruling. The total number of shares auctioned judicially by the controlling shareholder and its concerted parties has reached 786,290,927 shares, accounting for 15.59% of the total share capital. There is uncertainty regarding whether the change in shareholding will lead to a change in the controlling shareholder, and the company will continue to monitor the progress