江 铃Ｂ(200550):江铃汽车关于拟向控股子公司增资暨关联交易的公告（英文版）
Share’scode： Share’sName： No.： 200550 JianglingB JianglingMotorsCorporation,Ltd. PublicAnnouncementonProposedCapitalIncrease intheControlledSubsidiaryandRelatedPartyTransactions JianglingMotorsCorporation,Ltd.anditsBoardmembersundertakethattheinformationdisclosedhereinistruthful,accurateandcompleteanddoesnotcontainanyfalsestatement,misrepresentationormajoromission. I.BriefIntroductionofRelatedPartyTransactions i.Basicinformationofrelatedpartytransactions InordertomeettheneedsoftheCompany'spassengervehiclebusinessdevelopment,JianglingMotorsCo.,Ltd.(hereinafterreferredtoas"JMC"or"theCompany"),JianglingMotorsSalesCo.,Ltd.(awholly-ownedsubsidiaryoftheCompany),andFordMotorSalesService(Shanghai)Co.,Ltd.(awholly-ownedsubsidiaryofFordMotorCompany)enteredintotheDistributionServiceContractforJMCFordBrandVehiclestoauthorizeFordMotorSalesService(Shanghai)Co.,Ltd.to providefull-scaledistributionservices fortheFord branded passengervehiclesand FordbrandedpickupsmanufacturedbyJMC. TheCompanyplannedtojointlyincreasecapitalwithFordMotorCompany(hereinafterreferredto as “Ford”) at their original shareholding ratios to the Company’s controlling subsidiary,JianglingFordAutomobileTechnology(Shanghai)Co.,Ltd.(hereinafterreferredtoas“JianglingFord(Shanghai)”.TheCompanywillcontributeRMB126,378millionthroughdebt-to-equityconversion,whileFordwillinvestRMB121,422incashtosettletheliabilitiesofJianglingFord(Shanghai).Uponcompletionofthiscapitalincrease,theCompanywillremaina51%equitystakeinJianglingFord(Shanghai),maintainingitscurrentownershipratiounchanged.ii.BasicinformationofRelatedRelationships Fordholds32%oftheCompany’sequityandisthesecondlargestshareholderoftheCompany,therefore, the distribution services authorized by this time and the capital increase to thesubsidiaryconstituterelatedpartytransactions. iii.Relevantprocedurestobeperformedforthesetransactions 1.Thesetransactionshavebeenreviewedandapprovedbythe2025SecondSpecialMeetingoftheIndependentDirectorsoftheCompany,andtheIndependentDirectorsunanimouslyagreedtosubmitittotheBoardofDirectorsforreview. 2.TheBoardofDirectorsoftheCompanyreviewedandapproved,informofapapermeetingonSeptember 22, 2025, the Distribution Service Contract for JMC Brand Vehicles among theCompany,JianglingMotorSalesCo.,Ltd.andFordMotorSalesService(Shanghai)Co.,Ltd.,aswellastheRevisionandRestatementoftheJointVentureandShareholders'AgreementofJianglingFordAutomobileTechnology(Shanghai)Co.,Ltd.(2025)betweentheCompanyandFord.Duringthevoteontheabove-mentionedproposals,relatedDirectorsMr.ShengpoWu,Mr.RyanAnderson,andMs.XiongChunyingwithdrewfromvoting,whilealltheotherDirectors3.Astheamountofcapitalincreasetothesubsidiaryexceeds5%oftheCompany'sauditednetassetsattheendoflastyear,thiscapitalincreasetransactionstillneedstobesubmittedtotheshareholders'meetingoftheCompanyforapproval. 4.ThesetransactionsdonotconstituteamaterialassetreorganizationstipulatedinMeasuresfortheAdministrationofMaterialAssetReorganizationofListedCompaniespromulgatedbyCSRC.II.DistributionServiceContractforJMCFordBrandVehicleswithFordi.BasicinformationaboutthepartiestotheContract 1.BasicInformation CompanyName:FordMotorSalesService(Shanghai)Co.,Ltd. Registrationplace:Unit03,36thFloor,ShanghaiInformationTower,No.211CenturyAvenue,China(Shanghai)PilotFreeTradeZone. Dateofestablishment:April12,2019 Legalrepresentative:ShengpoWu EnterpriseType:LimitedLiabilityCompany(whollyforeign-ownedenterprise),awhollyownedsubsidiaryofFord BusinessScope: Engineering and technical research and experimental development; salesofvehicles,newenergyvehicles,autoparts,etc. ForinformationaboutFord,pleaserefertotherelevantintroductioninthenextsection.CompanyName:JianglingMotorsSalesCo.,Ltd. Registrationplace:JMCBuilding,No.2111YingbinMiddleAvenue,NanchangCity,JiangxiProvince,People’sRepublicofChina. Dateofestablishment:October11,2013 Legalrepresentative:ZhongJunhua EnterpriseType:LimitedLiabilityCompany,awhollyownedsubsidiaryoftheCompanyBusinessScope:Salesofvehiclesandautoparts. 2.Financialcondition Pleaserefertothe2025Half-yearReportofJMCpublishedbytheCompanyon August26,2025onthewebsitewww.cninfo.com.cn.forthefinancialdataofJianglingMotorsSalesCo.,Ltd.3.Creditworthiness AccordingtotheChinaEnforcementInformationPublicityNetwork,FordMotorSalesService(Shanghai)Co.,Ltd.andJianglingMotorsSalesCo.,Ltd.arenotpersonssubjecttoenforcementfordishonesty. ii.MaincontentsoftheDistributionServiceContractforJMCBrandVehicles1.JMCContractProductsmeanstheJMCFordBrandVehicles,i.e.‘thelocalizedFordbrandedpassengervehiclesandlocalizedFordbrandedpickupwhichhavebeenandtobemanufacturedbyJMCforChinaMarket’,aswellasthepartsandaccessoriesusedontheJMCFordBrandvehicles,andthemerchandise,thescheduledserviceprogram,extendedwarranty,andotherderivativeserviceproductsapplicabletotheJMCFordBrandVehicles. 2.AstheentrepreneurofJMCContractProducts,JMCauthorizesFordMotorSalesServicebusiness and operation activities related to dealer network establishment, management andadjustment.AsFordbrandownerandDistributionServicesprovider,FordMotorSalesService(Shanghai)Co.,Ltd.willimplementaunifiedmarketingandnetworkmanagementoftheFordBrandDealerNetwork. 3.JianglingMotorsSalesCo.,Ltd.,asawhollyownedsubsidiaryofJMC,shallperformrelevantclausesofthisContractbasedonJMC’sauthorization,includingbutnotlimitedtothewholesaleoftheJMCContractProductsandmakingpaymentoftheDistributionServicesfeetoFordMotorSalesService(Shanghai)Co.,Ltd. 4.FortheDistributionServicesrelatedtotheContractProductsprovidedbyFordMotorSalesService(Shanghai)Co.,Ltd.underthisContract,JMCshallpaytherelevantDistributionServicesfeetoFordMotorSalesService(Shanghai)Co.,Ltd. 5.ThisContractshallcomeintoforceonthedatefirstwrittenaboveandshalllastuntiltheendoflifecycleoftheJMCFordBrandVehicles. Note:TheestimatedannualamountoftherelevantDistributionServicesfeepayabletoFordMotorSalesService(Shanghai)Co.,Ltd.isexpectedtorangefromapproximatelyRMB250milliontoRMB300million. iii.Pricingpolicyforrelatedpartytransactions Theservicefeeinthisagreementisanagreementprice,whichshallbedeterminedthroughcostaccounting,quotation,andnegotiationbetweentheparties. iv.PurposeoftherelatedpartytransactionanditsimpactontheCompanyThepurposeofthisrelatedpartytransactionanditsimpactontheCompanyaredetailedinthe(v)ofthefollowingsection:‘PurposeoftheVehicleDistributionServicesTransactionandtheCapitalIncreasetotheControllingSubsidiarywithFordaswellastheirImpactontheCompany’.III.CapitalIncreasetotheControllingSubsidiary i.Basicinformationonrelatedparties 1.BasicInformation CompanyName:FordMotorCompany HeadquarterLocation:Detroit,U.S.A. Chairman:WilliamClayFord,Jr. EnterpriseType:aUSA-basedlistedcompany BusinessScope:todesign,manufacture,market,andserviceafulllineofFordcars,trucks,sportutility vehicles (“SUVs”), electrified vehicles, and Lincoln luxury vehicles,providefinancialservicesthroughFordMotorCreditCompanyLLC. 2.Financialcondition Auditedfinancialdataforthemostrecentyear: Unit:US$million
AccordingtotheChinaEnforcementInformationPublicityNetwork,Fordisnotapersonsubjecttoenforcementfordishonesty. iiInformationonthetargetcompanyoftherelatedpartytransaction 1.BasicInformation CompanyName:JianglingFordAutomobileTechnology(Shanghai)Co.,Ltd.Registeredcapital:RMB200million EnterpriseType:LimitedLiabilityCompany(foreigninvestment,non-soleproprietorship)Registrationplace:Unit06,36thFloor,No.211CenturyAvenue,China(Shanghai)PilotFreeTradeZone. Legalrepresentative:AndersonLiu BusinessScope:Engineeringandtechnologyresearchandexperimentaldevelopment,salesofvehicles,newenergyvehicles,autoparts,etc. 2.Financialcondition Financialdataforthemostrecentyearandperiod: Unit:RMB'000
TheauditedreportofJianglingFord(Shanghai)asofSeptember30,2025willbeannouncedtogetherwiththenoticeconveningtheshareholders'meetingtoapprovethisproposal.3.Shareholdingstructure TheshareholdingstructureofJianglingFord(Shanghai)beforeandafterthecapitalincreaseisasfollows:
AccordingtotheChinaEnforcementInformationPublicityNetwork,JianglingFord(Shanghai)isnotapersonsubjecttoenforcementfordishonesty. iii.Pricingpolicyandbasisforrelatedpartytransactions GiventhatasubstantialportionofJianglingFord(Shanghai)'sliabilitiesconsistsofdebtsowedtothe Company, the Company proposes to convert debt into equity. Ford proposes to injectadditionalcapitalintoJianglingFord(Shanghai)incashtosettlethedebtsofJianglingFord(Shanghai).Beforeandafterthecapitalincrease,theequitystructureofJianglingFord(Shanghai)remainedunchanged,withtheCompany'sshareholdingratioremainingat51%.Thetransactionpriceisbasedonthenewlyaddedregisteredcapital,whichisfairandreasonable,anddoesnotharmtheinterestsoftheCompanyoralltheshareholders,especiallyminorityshareholders.iv. Main contents of the Revision and Restatement of the Joint Venture and Shareholders'AgreementofJianglingFordAutomobileTechnology(Shanghai)Co.,Ltd.(2025)1.ThetotalinvestmentamountandregisteredcapitaloftheJointVentureCompanywillbeRMB2,678million.JMC’scontributiontotheregisteredcapitaloftheJointVentureCompanywillbeRMB1,365.68million,representing51%oftheJointVentureCompany’sregisteredcapital,whichwillbepaidinRMB.ExceptfortheRMB102millionthathasbeenpaidascapitalcontributioninRMBasoftheeffectivedate,theremainingportionshallbecontributedbywayofdebt-to-equityswap.Ford’scontributiontotheregisteredcapitaloftheJointVentureCompanywillbeRMB1,312.22million,representing49%oftheJointVentureCompany’sregisteredcapital,whichwillbepaidinUSDollars,RMB,orHongKongDollars. 2.TheCompanyhaspaidacapitalcontributionofRMB102million,andFordhaspaidacapitalcontributionofRMB98million.TheunpaidportionsbyeachshareholdershallbefullypaidwithinfiveyearsfromthedateofregistrationoftheregisteredcapitalchangeoftheJointVentureCompany.Specially,theCompanyshallcompletethecapitalcontributionofRMB755millionthroughdebt-to-equityconversiononthesamedateasFord’scapitalcontributionin2025,whileFordshallcompleteitscashcontributionofRMB725millionbyDecember31,2025.Theremaining portion shall be allocated in instalments with specific payment schedules to bedeterminedbyunanimousdecisionoftheJointVenture’sBoardofDirectors.3.CommencingfromOctober1,2025,theJointVentureCompanyshallconductbusinessandactivitiesrelatedtothesettlementoftheJointVentureCompany'sliabilities,aswellasanyotherbusinessandactivitiesapprovedbytheBoardofDirectorsoftheJointVentureCompany. The4.FromthedateofexecutionofthisAgreement,theJointVentureCompanyshallhaveonePresident,oneVicePresidentofFinance,andoneChiefofFinanceDepartment,whoshallbeappointedordismissedbytheBoardofDirectorsoftheJointVentureCompany.Note:ForthemaincontentoftheJointVentureandShareholderAgreementofJianglingFordAutomotive Technology (Shanghai) Co., Ltd., please refer to the Public Announcement onEstablishmentofaJointVenturewithRelatedPartbyJianglingMotorsCo.,Ltd.publishedonSeptember27,2021inChinaSecurities,SecuritiesTimes,HongKongCommercialDaily,andthewebsitewww.cninfo.com.cn. v.Purpose oftheVehicleDistributionServices Transaction and theCapitalIncreaseto theControllingSubsidiarywithFordaswellastheirImpactontheCompanyBasedonaseriesofstrategicconsiderationsrelatedtoJianglingFord(Shanghai)anditsbusinessaswellasthecurrentsituationofJianglingFord(Shanghai),theCompanyandFordagreethatitisnecessaryto: 1.FordwillstrategicallyupgradethedealernetworkmanagedbyJianglingFord(Shanghai)andotherChinadealernetworksauthorizedbytheFordbrand,implementingunifiedmarketingandchannelmanagementtosimplifyoperations,eliminateredundancies,andexpandsalesandafter-salesservicecoverage; 2.TheCompanyentrustsJianglingMotorsSalesCo.,Ltd.towholesaleallFordbrandpassengervehiclesandFordbrandPickupsmanufacturedbytheCompanytodealers;3.TheCompanyengagesaFordsubsidiarytoprovidefull-scaledistributionservicesfortheFordbrandpassengervehiclesandFordbrandPickupsmanufacturedbytheCompany;4.TheCompanywillconvertdebtintoequity,andFordwillinjectadditionalcapitalincashintoJianglingFord(Shanghai),accordingtotheexistingequityproportion,tosettleitsliabilities.TheaforementionedtransactionsandarrangementswillhelpincreasethesalesvolumeoftheCompany'sFordbrandpassengervehiclesandFordbrandPickups.ThecapitalincreaseanddebtsettlementarrangementsforJianglingFord(Shanghai)willhavenoimpactonthetotalprofitoftheCompany. IVDetailsofallrelatedpartytransactionsthathaveoccurredcumulativelywiththerelatedparty Fromthebeginningofthisyeartotheendoflastmonth,thetotalamountofvariousrelatedpartytransactionsbetweentheCompanyandFordisapproximatelyRMB210million.V.ReviewoftheSpecialMeetingofIndependentDirectors The2025SecondSpecialMeetingoftheIndependentDirectorsoftheCompanywasheldonSeptember16,2025toapprovetheDistributionServiceContractforJMCFordBrandVehiclesamongtheCompany,JianglingMotorSalesCo.,Ltd.andFordMotorSalesService(Shanghai)Co., Ltd., as well as the Revision and Restatement of the Joint Venture and Shareholders'AgreementofJianglingFordAutomobileTechnology(Shanghai)Co.,Ltd.(2025)betweentheCompanyandFordMotorCompany,andissuedthefollowingreviewopinions:i.WehavethoroughlyreviewedtherelevantcontentoftheDistributionServiceContractforJMCFordBrandVehiclesamongtheCompany,JianglingMotorSalesCo.,Ltd.,andFordMotorSalesService(Shanghai)Co.,Ltd.Aftercarefulexamination,webelievethattheprovisionsintheagreementalignwithstandardcommercialprinciplesandarefairandreasonable.Weagreedii.GiventhatthemajorityofliabilitiesinthedebtportfolioofJianglingFord(Shanghai)(asubsidiaryoftheCompany)areowedtotheCompany,theCompanywillimplementadebt-to-equityconversion,andFordwillinjectadditionalcapitalintoJianglingFord(Shanghai)incash.These funds shall be allocated to settle the liabilities of Jiangling Ford (Shanghai). In theaforementioned capital increase arrangement, the related shareholder will contribute cashaccording to their shareholding ratios, which complies with the principle of fairness andreasonablenessanddoesnotharmtheinterestsoftheCompanyoritsshareholders.WeagreetosubmitthisproposaltotheBoardofDirectorsoftheCompanyforreview.IV.ListofDocumentsforReference 1.ReviewOpinionsofY2025SecondSpecialMeetingoftheIndependentDirectors;2.ResolutionsoftheBoardofDirectorsofJMC. Itisherebyannounced. BoardofDirectors JianglingMotorsCorporation,Ltd. September24,2025 中财网
 |