Changan Automobile Announces New Mission and Corporate Restructuring

On July 28, Changan Automobile's official Weibo account posted a message stating: 'New mission, new journey, witness together, starting anew,' accompanied by images showcasing the main models from its sub-brands. Meanwhile, an official Weibo account named 'China Changan Automobile Group' has also been launched, certified as 'China Changan Automobile Group Co., Ltd.' As of the time of publication, this Weibo account has not posted any content yet. Earlier this month, reports indicated that Changan Group had formed a preparatory team for restructuring, with leaders from Changan Automobile and Chen Zhi Group among the primary members, expected to be finalized in August. Additional news suggested that the headquarters of the closely related 'new central enterprise' would be established in Chongqing, potentially led by the current chairman of Changan Automobile, Zhu Huarong, with a decision likely by the end of the month. At that time, Changan Automobile stated that the new company's name and specific leadership arrangements were still unknown, but the establishment of the new company might take place in Chongqing. On June 23 of this year, Changan Automobile announced that it had received a notification from its controlling shareholder, China Changan Automobile Group Co., Ltd. (hereinafter referred to as China Changan Automobile Group), regarding the change of its name to 'Chen Zhi Automotive Technology Group Co., Ltd.' (hereinafter referred to as Chen Zhi Automotive). The relevant industrial and commercial change registration procedures have been completed, and a business license has been obtained. Public records show that Chen Zhi Automotive was established on December 26, 2005, with Zhao Fei as the legal representative and a registered capital of 609,227,340 yuan, covering the design, development, manufacturing, and sales of automobiles, motorcycles, automotive and motorcycle engines, and components. Changan Automobile emphasized that the aforementioned industrial and commercial changes do not involve changes in the number or proportion of shares held by the shareholder, do not affect company governance or operational activities, and will not result in changes in the controlling shareholder or actual controller of the company.