BHAS: Major asset restructuring approved by the Beijing State-owned Assets Supervision and Administration Commission

BHAS announced that on October 14, 2025, its indirect controlling shareholder, Beijing Automotive Group Co., Ltd., received the "Reply from the State-owned Assets Supervision and Administration Commission of the People's Government of Beijing Municipality on Major Asset Restructuring Matters of BHAS" issued by the Beijing State-owned Assets Supervision and Administration Commission, which in principle agrees to BHAS's overall plan to acquire part of the assets of Haina Chuan through the issuance of shares and cash payment, as well as to raise matching funds. This transaction still requires the approval of the company's shareholders' meeting and must be formally implemented after approval by the competent regulatory authorities