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/Share¡¯s code£º 000550          Share¡¯s Name£º Jiangling Motors       No.£º 2026-004
                     Jiangling Motors Corporation, Ltd.
    Public Announcement on Resolutions of the Board of Directors
Jiangling Motors Corporation, Ltd. and its Board members undertake that the
information disclosed herein is truthful, accurate and complete and does not
contain any false statement, misrepresentation or major omission.
I. Informing of the Meeting
The Board of Directors of Jiangling Motors Corporation, Ltd. (hereinafter referred to
as ¡®JMC¡¯ or the ¡®Company¡¯) sent out the relevant proposals to all the Directors on
January 19, 2026.
II. Time, Place & Form of Holding the Meeting
The Board meeting was held in form of paper meeting from January 19 to January 23,
stipulation of the relevant laws, regulations and the Articles of Association of JMC.
III. Status of the Directors Attending the Meeting
Eleven Directors shall attend this Board meeting and eleven Directors were present.
IV. Resolutions
The Directors present at the meeting approved the following resolutions in form of
paper meeting:
The Board of Directors approved the 2025 Assets Impairment Provisions & Write-off
proposal of the Company.
In 2025, the Company added assets impairment provisions of RMB 351 million and
wrote off assets impairment provisions of RMB 83 million, of which the Company
reversed uncollectable receivables of RMB 1.9 million; accrued obsolete inventory
provision of RMB 30.7 million, wrote off obsolete inventory provision of RMB 51
million; accrued fixed assets provision of RMB 183 million, wrote off fixed assets
provision of RMB 32 million, accrued other current assets provision of RMB 136
million. Balance of the Company¡¯s assets impairment provisions as of the end of 2025
was RMB 1,271 million.
The Board of Directors believed that the foregoing provision accruals and write-offs
were consistent with JMC¡¯s actual needs and situation.
There were 11 votes in favor of this proposal, 0 vote against, and 0 abstention.
The accruals of the uncollectable receivable provision of RMB 19 million primarily
reflected the increase of vehicle receivables.
The accruals of the obsolete inventory provision of RMB 30.7 million primarily
reflected the anticipated useless parts and inventory items and unsalable parts with an
estimated net realizable value below cost.
The write-offs of the obsolete inventory provision of RMB 51 million primarily
reflected the confirmed unusable parts.
The accruals of the fixed assets provision of RMB 183 million primarily reflected the
purpose to make provisions for the portion where the estimated recoverable amount of
the held operating vehicles for lease, as assessed by a third party, falls below the book
value.
The write-offs of the fixed assets provision of RMB 32 million primarily reflected the
disposal of the confirmed unusable equipment and tools.
The accruals of the other current assets provision of RMB 136 million were primarily
due to the uncertainty regarding the future deduction or refund of the VAT input tax
credits of Jiangling Ford Automotive Technology (Shanghai) Co., Ltd., a subsidiary of
the Company, who has undergone business restructuring, therefore a full impairment
provision has been made for them.
The accruals of the assets impairment provisions have a negative impact of about
RMB 351 million on profit before taxes of JMC in 2025.
It is hereby announced.
Board of Directors
Jiangling Motors Corporation, Ltd.
January 24, 2026