Great Wall Motor plans to repurchase and cancel 4.71M restricted shares, involving approximately 59.88 million yuan.

March 31, 2026, Great Wall Motor Co., Ltd. (hereinafter referred to as “Great Wall Motor”) released an announcement stating that the company plans to repurchase and cancel some restricted shares. The repurchase and cancellation involves two parts: the initial grant and the reserved grant, totaling 4,705,745 shares, with an amount of approximately RMB 59.88 million (excluding bank deposit interest for the same period). This repurchase and cancellation is attributable to factors such as the company-level performance achievement and changes in some incentive recipients. After the cancellation, the company’s registered capital will be reduced accordingly.

Repurchase and Cancellation Plan: Involving Two Types of Restricted Shares, Price Adjusted Including Interest

According to the announcement, the restricted shares Great Wall Motor plans to repurchase and cancel are divided into two parts: the initial grant and the reserved grant. Specifically:

• | 59,876,646.22 |

The announcement clarifies that the repurchase price will be adjusted by adding the bank deposit interest for the same period, according to the “2023 Restricted Stock Incentive Plan” (the benchmark deposit interest rate for the same period announced by the People’s Bank of China). If there are matters that require adjusting the repurchase price during implementation, the company will adjust the repurchase price in accordance with the incentive plan.

Reasons for Repurchase and Cancellation: Dual Factors of Performance Not Meeting Targets and Changes in Incentive Recipients

This repurchase and cancellation is mainly based on two reasons:

On the one hand, according to the company-level performance achievement status under the “2023 Restricted Stock Incentive Plan,” some restricted shares need to be repurchased and canceled because the conditions for lifting the lock-up have not been met. On the other hand, due to some incentive recipients resigning, being demoted, or considering the annual individual performance evaluation results of the incentive recipients, in accordance with the “Long-term Incentive Mechanism Management Measures of Great Wall Motor Co., Ltd.” and the relevant provisions of the incentive plan, the corresponding restricted shares need to be repurchased and canceled.

The announcement shows that this matter has been authorized by the company’s 2024 first extraordinary general meeting, the 2024 first H-share class shareholder meeting, and the 2024 first A-share class shareholder meeting, and has been approved at the 49th meeting of the eighth session of the board of directors held on March 31, 2026.

Creditor Claim Arrangements: Rights Can Be Asserted Within 45 Days

Because this repurchase and cancellation will result in a reduction of the company’s registered capital, Great Wall Motor has issued a notice to creditors. The announcement clearly states that creditors, within 45 days after receiving the company’s notice, or within 45 days after the announcement is disclosed, may require the company to repay debts or provide guarantees by presenting valid creditor debt proof documents. Creditors that fail to submit their claims in accordance with the requirements will be deemed to have waived their right to file claims, and the company will continue to settle debts in accordance with the original agreement.

Creditors may declare their claims by mail or fax: the mailing address is 2266 Chaoyang South Street, Lianchi District, Baoding City, Hebei Province, China (Recipient: Ms. Jiang Li, Postal Code 071000; please indicate “Claim Creditor” on the envelope cover); the fax number is 86-312-2197812 (please indicate “Claim Creditor” on the cover sheet of the fax), and the telephone contact number and contact person are both Ms. Jiang Li (86-312-2197812).

Great Wall Motor states that after the board executes the repurchase, the repurchased shares will be canceled, and the company’s registered capital will be reduced accordingly. This operation strictly follows the relevant laws and regulations and the provisions of the company’s incentive plan, aiming to maintain the seriousness and fairness of the incentive plan.

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Responsible editor: Xiao Lang Express