Loncin Motor (603766.SH) plans to transfer all its equity in Zhuhai Longhua.

Loncin Motor (603766.SH) announced that the company plans to sign a "equity transfer agreement" with Li Liangjun, a minority shareholder of Zhuhai Longhua Helicopter Technology Co., Ltd. (referred to as "Zhuhai Longhua"), based on the evaluation results of the evaluation agency, at a transaction price of 1 yuan, the company will transfer all of its 49.9988% equity ownership in Zhuhai Longhua to Li Liangjun. After the completion of this transaction, the company will no longer hold any shares in Zhuhai Longhua, and Zhuhai Longhua will no longer be included in the company's consolidated financial statements. The announcement stated that the company established a development strategy of "focusing on its main business" in September 2021, concentrating its resources on developing its main business. In this context, the unmanned aerial vehicle business platform invested by the company, Zhuhai Longhua, has been one of the non-core assets of focus in the company's strategic adjustment due to its slow commercialization process and long-term operating losses. Despite the company's long-term significant support in terms of funding and resources for Zhuhai Longhua, and actively seeking to introduce strategic investors to turn the situation around, the company's commercialization goals have not been effectively achieved, and it has been in a long-term operating loss situation. As of October 31, 2025, Zhuhai Longhua had a net asset value of -67.3517 million yuan on its balance sheet. After careful study and discussion, the company decided to divest this part of the business.