Hongchang Technology: The related fund holds a 5.5046% stake in Zhangxue Motor, which has little impact on the company.

(Source: Caixin)

The fund completed its investment in Chongqing Zhangxue Motorcycle Industry Co., Ltd. in January 2026, and completed the business registration change in March 2026. After the investment is completed, the fund holds a 5.5046% stake in Zhangxue Motorcycle. This investment by the company is a financial investment, and has little impact on the company.

March 31, Hongchang Technology (301008.SZ) issued an announcement on abnormal stock trading price fluctuations. The stock trading price of the company saw the closing price increase deviation value cumulatively reach 46.58% over two consecutive trading days (exceeding 30%). According to relevant regulations of the Shenzhen Stock Exchange, this falls under abnormal stock trading price fluctuations.

In response to the abnormal fluctuations in the company’s stock trading, the company’s board of directors verified the relevant matters with the company’s controlling shareholder and its persons acting in concert, the actual controller, all directors, and senior management through telephone and on-site inquiries. Specifically, there is no need to correct or supplement the information previously disclosed; at the same time, the company noted that in the recent period, public media have reported a large amount of information about “Zhangxue Motorcycle” winning the championship in the World Superbike Championship (WSBK) Portugal round in the WorldSSP category, and market attention is high, with reports also covering the company’s indirect investment in “Zhangxue Motorcycle.” It is understood that in August 2025, the company, as a limited partner, together with other partners, invested in the Jinhua Zhechuang Jinyi Zhikong Venture Capital Partnership (Limited Partnership). The total amount of capital to be subscribed was RMB 50,300 million. The company subscribed RMB 15,000 million from its own funds, representing a contribution ratio of 29.82%. The fund completed its investment in Chongqing Zhangxue Motorcycle Industry Co., Ltd. in January 2026 and completed the business registration change in March 2026. After the investment is completed, the fund holds a 5.5046% stake in Zhangxue Motorcycle. This investment by the company is a financial investment, and has little impact on the company. In addition, the company’s recent operations are normal; its principal business has not changed; and there have been no significant changes in the internal and external operating environment. There are no major matters that the company, its controlling shareholder, or its actual controller should disclose but have not disclosed; nor are there major matters in the planning stage. During the period of abnormal stock trading fluctuations, there were no actions involving the buying or selling of the company’s stock by the company’s controlling shareholder, actual controller, shareholders holding more than 5%, the company’s directors, or senior management.

After conducting a self-examination, the company found that it has not violated the requirement for fair disclosure of information. The board of directors confirms that, as of now, the company has no major matters that should be disclosed according to the “Shenzhen Stock Exchange Growth Enterprise Market Stock Listing Rules” and other relevant regulations, nor any related planning, discussions, intentions, agreements, etc. related to such matters. The board has also not become aware of any information that should be disclosed under the same rules and could have a major impact on the trading price of the company’s stock and its derivative varieties. The previously disclosed information does not require correction or supplementation. The company reminds investors to invest rationally and to pay attention to investment risks.

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