On October 12, 2022, JETONDA Automobile Group Co., Ltd. (hereinafter referred to as “JETONDA Group”) held its founding meeting. The convening of this meeting marked the transformation of JETONDA Group from a limited liability company to a joint stock limited company, which is an important milestone for the company’s IPO listing and has a milestone significance, making positive preparations for the company’s listing. Officials from Xiqing District Finance Bureau, District Commerce Bureau, and Dashi Town attended the conference ceremony.

With the strong support of government leaders at all levels in Xiqing District, Tianjin and the efforts of all employees of JETONDA, JETONDA Group has achieved good business performance. It has hired a team of domestic first-class securities firms, lawyers, and accountants for guidance. Currently, significant progress has been made in the IPO work, the equity structure of the group and its subsidiaries has been further optimized, corporate governance has been more scientific and standardized, and the internal control system has been more sound, improving the company’s operational efficiency Reducing operational risks provides support and lays a solid foundation for achieving listing goals. In order to attract and retain outstanding management talents and business backbones, and advocate for the common development of the company and individuals, the company has established an equity incentive employee shareholding platform.

In accordance with the requirements of relevant laws and regulations such as the Company Law of the People’s Republic of China and the Articles of Association of JETONDA Automobile Group Co., Ltd., the establishment meeting has reviewed and passed the Proposal on the Overall Change of Establishment of a Joint Stock Co., Ltd. in Tianjin JETONDA Automobile Investment Group Co., Ltd., and the Proposal on the Election of Members of the First Board of Directors of the Company Proposal on electing non employee representative supervisors for the first board of supervisors of the company.
The content approved by the founding meeting is as follows:
1、Tianjin JETONDA Automobile Investment Group Co., Ltd. has undergone an overall change to establish a joint-stock limited company. After the change, the full name of the joint-stock company is JETONDA Automobile Group Co., Ltd. When the joint-stock company was established, the total number of shares issued was 193.75 million shares. The total number of shares of the joint-stock company is held by all existing shareholders of the limited company in proportion to their respective shareholding in the limited company.

2. The elected members of the board of directors are Kang Peng, Yang Shaobin, Zhu Wenlong, Li Zhipeng, and Wei Tianlin;
3. The elected members of the supervisory board are Cursor, Wang Hong, and the employee representative supervisor, Wang Qingsen.
   And other relevant proposals.

The founding conference of JETONDA Group is a phased achievement of IPO work, as well as a new starting point and journey for IPO work. Under the leadership of Chairman Kang Peng, JETONDA Group will create better business performance to welcome the achievement of IPO goals and leverage the power of the capital market to achieve leapfrog development.