Wuling Motors Holdings Limited (the “Company”) disclosed that its subsidiaries—Liuzhou Wuling Motors Industrial Company Limited (“Wuling Industrial”) and Liuzhou Wuling Liuji Motors Company Limited (“Wuling Liuji”)—signed a Bank Deposit and Settlement Framework Agreement with Bank of Liuzhou on 28 August 2026.
The new framework succeeds two earlier agreements that expire in October 2026 and secures uninterrupted banking services from 21 October 2026 to 31 December 2028. Under the pact, the subsidiaries will maintain demand deposits through Bank of Liuzhou’s “Corporate Demand Deposit” product. Interest rates must be no less favorable than those offered by independent banks for comparable products, calculated on an actual-day basis and paid quarterly.
Key financial parameters • Proposed daily maximum deposit balance (including accrued interest): RMB2.60 billion for each of FY 2026, FY 2027 and FY 2028. • Basis for caps: (i) historical peak daily balance of approximately RMB2.20 billion recorded between 1 January 2026 and 10 August 2026; (ii) about 25% of the Group’s audited total assets as at 31 December 2025; and (iii) a 20% buffer for future operating needs.
Connected-transaction implications Bank of Liuzhou became a connected person on 1 January 2026 after Guangxi Guokong Capital Operation Group Co., Ltd. acquired a 67.44% stake in the bank. Consequently, the renewed arrangement constitutes a non-exempt continuing connected transaction under Chapter 14A of the Hong Kong Listing Rules: • All percentage ratios exceed 5%, triggering announcement, circular, independent shareholders’ approval and annual review requirements. • Guangxi Automobile Holdings Limited and its associates—together controlling approximately 56.54% of Wuling Motors—must abstain from voting at the forthcoming special general meeting (SGM). • An Independent Board Committee of all independent non-executive directors has been formed, and Huajin Corporate Finance (International) Limited has been appointed as Independent Financial Adviser. A circular is expected to be dispatched to shareholders on or before 25 September 2026.
Rationale and internal controls The Liuzhou region hosts Wuling Industrial Group’s core operations, making Bank of Liuzhou—headquartered locally—a practical banking partner. Competitive deposit rates have increased transaction volumes in recent periods. The Company has adopted safeguards to ensure arm’s-length terms: 1. Mandatory comparison of at least two quotations from unrelated banks before placing deposits. 2. Ongoing monitoring of deposit balances against approved caps and quarterly reporting to the Board. 3. Annual review by independent non-executive directors and external auditors to confirm compliance with pricing policies. 4. Periodic assessment of Bank of Liuzhou’s financial health, with contingency plans to reduce exposure if risk indicators arise.
The Board approved the framework and proposed annual caps on 28 August 2026; interested directors abstained from voting. Shareholder approval will be sought at the SGM, after which the agreement will take effect for approximately two years and two months, expiring automatically on 31 December 2028 unless renewed in compliance with Listing Rule requirements.