JAC announced that the company's application to issue A-shares to specific targets was reviewed and approved by the Shanghai Stock Exchange on December 10, 2025. We are currently working with intermediaries to update and revise application documents such as recruitment brochures and responses to review inquiries. The matter still needs to be approved by the China Securities Regulatory Commission before it can be implemented. The final approval and timing are uncertain. The company will disclose the progress according to regulations and remind investors to pay attention to the risks.

JAC announced that the company's application to issue A-shares to specific targets was reviewed and approved by the Shanghai Stock Exchange on December 10, 2025. We are currently working with intermediaries to update and revise application documents such as recruitment brochures and responses to review inquiries. The matter still needs to be approved by the China Securities Regulatory Commission before it can be implemented. The final approval and timing are uncertain. The company will disclose the progress according to regulations and remind investors to pay attention to the risks.