Zero Sports Auto (09863) signed a domestic stock subscription agreement with Jinyi Hi-Tech to issue 59.64 million domestic shares

Zhitong Finance App News, Zero Sports Auto (09863) announced that on January 6, 2026, the Company and Jinyi Gaoxin entered into a subscription agreement for Jinyi Gaoxin's domestic shares. The company has conditionally agreed to issue 59.64 million domestic shares to Jinyi Gaoxin. The subscription price is RMB 50.03 per domestic stock subscription share (calculated as of the date of the Jinyi Gaoxin Domestic Stock Subscription Agreement), the median RMB exchange rate of RMB 1 HKD to RMB 0.90,161, which is equivalent to 5.49549 HKD). Domestic stock subscription shares will be issued under a general mandate.

Furthermore, according to the Company's announcement dated December 28, 2025, the Company and FAW Equity entered into a subscription agreement for domestic shares of FAW Equity on December 28, 2025. According to this, the Company has conditionally agreed to issue 74.832 million domestic shares to FAW shares and 59.64 million domestic shares to Jinyi Gaoxin respectively. In this round, the Company will issue a total of 135 million domestic shares to FAW shares and Jinyi Hi-Tech.

The total face value of domestic stock subscription shares issued by the Company from FAW Equity and Jinyi Hi-Tech in this round is RMB 135 million. The 135 million domestic shares to be subscribed by FAW Equity and Jinyi Hi-Tech are equivalent to the total number of domestic shares issued by the Company as of the date of this announcement and the total number of domestic shares issued by the Company expanded by about 46.36% and 31.67% respectively after the expansion of domestic share subscription matters; and the total number of issued shares of the Company expanded by about 9.48% and 8.66% respectively as of the date of this announcement.

The subscription price is a premium of HK$49.31 for each H share reported on the Stock Exchange at the closing price of HK$50.50 for each H share on the date of the Jinyi Hi-Tech domestic stock subscription agreement (i.e. January 6, 2026), and the average closing price of each H share for 5 consecutive trading days (i.e. December 29, 2025 to January 5, 2026) on the Stock Exchange.

The total proceeds from Jinyi Hi-Tech's domestic stock subscription projects are about RMB 3 billion, and the total proceeds from FAW's domestic stock subscription projects are approximately RMB 3,744 billion. The total proceeds from this round of domestic stock subscriptions will total approximately RMB 6.744 billion, of which approximately 70% or RMB 4.721 billion will be used for R&D investment; approximately 30% or RMB 2,023 billion will be used to supplement working capital and general corporate purposes.

Jinyi Hi-Tech's domestic stock subscription is a strategic investment made by Jinyi Hi-Tech, which shows its confidence in the company's smart new energy vehicle business and the company's long-term development and prospects. The Jinyi Hi-Tech domestic stock subscription project will also lay the foundation for establishing and strengthening the company's potential commercial and industrial cooperation in Jindong District. This kind of commercial and industrial cooperation will benefit the company and the local economy of Jindong District.