Hangcha Group (603298.SH): The first public offering of shares by the affiliated company, Zhongce Rubber, has been approved by the Shanghai Stock Exchange.

Hangcha Group (603298.SH) announced that the initial public offering of shares by its equity investee, Zhongce Rubber Group Co., Ltd. (referred to as "Zhongce Rubber"), was approved by the Shanghai Stock Exchange Listing Committee on February 13, 2025 at its second review meeting. Established in 1992, Zhongce Rubber is mainly engaged in the research, production, and sales of various tire products such as all-steel tires, semi-steel tires, bias tires, and tires. Since its establishment, it has been committed to providing high-quality, high-performance, environmentally friendly and energy-saving tire products for consumers at home and abroad. It is one of the largest tire manufacturing enterprises in terms of sales volume domestically and internationally. As of the date of this announcement, Zhongce Rubber's total shares outstanding are 787,037,038 shares, with the company indirectly holding a 11.44% stake. The initial public offering and listing of Zhongce Rubber's shares are subject to the registration procedures of the China Securities Regulatory Commission and therefore, uncertainties exist.