Longzhou Group (002682.SZ) plans to list for transfer its 51% equity interest in Zhongqi Hongyuan and related creditor's rights.

Longzhou Group (002682.SZ) announced that the company plans to transfer, by way of public listing, its 51% equity interest in its controlled subsidiary's subsidiary Dongguan Zhongqi Hongyuan Automobile Co., Ltd. (hereinafter referred to as Zhongqi Hongyuan) and all of the company's and Longyan Xinyu Automobile Sales Service Co., Ltd.'s (hereinafter referred to as Xinyu Automobile) creditor's rights against Zhongqi Hongyuan. The total initial listing reserve price for the aforementioned equity and creditor's rights is RMB1.31 billion. Zhongqi Hongyuan is mainly engaged in the research, development and manufacturing of new energy vehicles, primarily producing 6-12 meter pure electric city buses, pure electric business coaches, pure electric logistics vehicles and other new energy vehicle products. In recent years, affected by factors such as the slowdown in renewal of the new energy bus market, Zhongqi Hongyuan, in response to insufficient orders, has temporarily suspended production since January 1, 2024.