Sinotruk Jinan Truck (03808) plans to increase capital by 3.485 billion yuan to Shandong Heavy Industries Finance Company.

Sinotruk Jinan Truck (03808) announced on November 11, 2024, that the board of directors has decided to initiate the automatic liquidation process of its non-wholly owned subsidiary, China National Heavy Duty Truck Financial Corporation. On November 11, 2024, the company entered into a capital increase agreement with Shandong Heavy Industry Financial Corporation and its existing equity holders. According to the agreement, the company has conditionally agreed to inject capital into Shandong Heavy Industry Financial Corporation in the amount of RMB 3.485 billion, while the existing equity holders of Shandong Heavy Industry Financial Corporation have conditionally agreed to inject capital into the company in the total amount of RMB 2.091 billion. In view of China National Heavy Duty Truck Financial Corporation gradually ceasing its business operations and ceasing to provide financial services to the group after the automatic liquidation, the group plans to cooperate with Shandong Heavy Industry Financial Group in the future to provide necessary financial services to the group's member companies. Therefore, the company (on behalf of itself and its subsidiaries) has entered into (i) a deposit services agreement for 2027 and (ii) a mortgage financial services agreement for 2027 with Shandong Heavy Industry Financial Corporation (on behalf of itself and any related parties) to regulate the terms of the transactions.