CHERVON-AUTO: Derun Holdings and its concerted parties intend to be exempt from making a takeover offer

CHERVON-AUTO announced that the company will hold a board of directors and supervisory board meeting on September 10, 2025, to review and approve the proposal to seek the shareholders' meeting's consent for specific parties and their concerted actions to be exempt from issuing a takeover offer. The issuance target is Derun Holdings, an enterprise controlled by the company's actual controller Pan Longquan, along with Pan Longquan, the controlling shareholder Chervon Precision, and shareholder Chervon China Investment as concerted actors. Before this issuance, Derun Holdings does not directly hold shares in the company, while Chervon Precision and Chervon China Investment collectively hold 40.25% of the company's shares. The shares subscribed by Derun Holdings in this issuance cannot be transferred within 36 months from the end of the issuance, in accordance with the relevant provisions of Article 63, Paragraph 1 of the Administrative Measures for the Acquisition of Listed Companies. The company's board of directors agrees to propose to the shareholders' meeting to approve Derun Holdings and its concerted actors to be exempt from issuing a takeover offer