Qingling Motor Co., Ltd. (01122) signs repurchase agreements with financial leasing companies and dealers

According to Zhitong Finance App, Qingling Auto Co., Ltd. (01122) announced that on December 19, 2025, the company, financial leasing company Chongqing Mingde Financial Leasing Co., Ltd. and dealer Sichuan Zhongtai Auto Sales & Service Co., Ltd. signed a repurchase agreement. The object of the repurchase is leased property, a number of new energy vehicles leased by the dealer from the financial leasing company under the financial lease contract, with a total number of vehicles being 300; and lease claims, which the financial leasing company has against the dealer under the financial lease contract corresponding to the leased property (including unpaid rent due and unpaid rent, the remaining value of the corresponding repurchased leased property, and the corresponding repurchase price of the leased property), as well as the relevant rights set by the financial leasing company to control the leased property (including but not limited to the corresponding collateral claims set by the financial leasing company on the dealer for the relevant property).

In response to national policies and government requirements, the company actively explores new energy commercial vehicle technology innovation and business model changes, promotes the deep integration of the NEV smart connected vehicle industry chain, innovation chain and capital chain, and cultivates and expands the NEV commercial vehicle industry and market. Currently, although the company's new energy commercial vehicle sales are growing rapidly in the light commercial vehicle industry, overall sales are still low. Based on the fact that NEVs are generally expensive to buy, the way customers use NEVs has gradually changed from the previous model of buying a car to a car rental model. Therefore, the leasing model has become an important way to drive sales of new energy commercial vehicles.

To this end, the company draws on the financial leasing model commonly used by domestic automobile companies and strengthens cooperation with financial institutions such as commercial banks and financial leasing companies to provide repurchase obligations for customers or dealers to purchase the Group's NEVs. In this regard, the repurchase obligation under the repurchase agreement is essentially that the company provides performance and credit enhancement guarantees for the sale of its own products; it is not simply providing a financing guarantee for a third party.