On September 10th, Zotye Automobile issued an announcement regarding abnormal stock price movements. The announcement revealed that the company's stock had experienced a closing - price increase deviation exceeding 20% over two consecutive trading days, namely September 8th and September 9th, 2025. This level of deviation qualifies as abnormal fluctuations in stock trading.

Following a thorough verification process, the company determined that there was no necessity to correct or supplement any of the information that had been previously disclosed. Moreover, there have been no recent reports in public media about any unpublicized major information that could potentially have, or has already had, a significant impact on the company's stock trading price.

However, a significant setback has occurred. The automobile assembly production line and associated equipment for the T300 vehicle model, which are under the Chongqing Branch of the company's subsidiary, Hunan Jiangnan Automobile Manufacturing Co., Ltd., have been forcibly demolished by the People's Court of Bishan District in Chongqing. Given this situation, the company lacks the prerequisites to resume production of the T300 vehicle model this year. In fact, it is currently unable to restart production, and there are uncertainties surrounding its ability to maintain continuous operations.

It is also worth noting that during the period of abnormal stock fluctuations, the controlling shareholder did not engage in any active buying or selling of the company's stock.