Huada Automotive Technology Corp., Ltd (603358.SH) has received approval from the China Securities Regulatory Commission for its issuance of shares for acquisition purposes.

Huada Automotive Technology Corp., Ltd (603358.SH) announcement: The company plans to purchase 44.00% equity of Jiangsu Hengyi Industrial Technology Co., Ltd (referred to as "Jiangsu Hengyi") through issuing shares and paying cash, and to raise matching funds (referred to as "this transaction"). The company recently received the approval from the China Securities Regulatory Commission on issuing shares to purchase assets and raise matching funds (CSRC Permit [2025] No. 413). The main contents of the approval are as follows: "1. Approve your company to issue 9,253,845 shares to Ju Xiaoping, 7,143,669 shares to He Liping, 3,074,534 shares to Wan Xiaomin, 614,906 shares to Zheng Xinrong, and 409,937 shares to Zou Zhanwei to purchase relevant assets. 2. Approve your company to issue shares to raise matching funds not exceeding 297 million yuan. 3. Your company shall strictly follow the relevant application documents submitted to the Shanghai Stock Exchange for this issuance of shares to purchase assets and raise matching funds. 4. Your company shall timely fulfill the disclosure obligations in accordance with relevant regulations. 5. Your company shall handle the relevant procedures for this issuance of shares in accordance with relevant regulations. 6. This approval is valid for 12 months from the date of issuance. 7. Your company, in the process of implementation, shall promptly report any significant matters required by laws and regulations to be disclosed or encounter significant issues to the Shanghai Stock Exchange and handle them in accordance with relevant regulations."