| Share’s code： | 000550 | Share’s Name： | Jiangling Motors | No.： | 2023—023 |
| 200550 | Jiangling B |
Jiangling Motors Corporation, Ltd.Public Announcement on Resolutions of the Board of Directors
Jiangling Motors Corporation, Ltd. and its Board members undertake that theinformation disclosed herein is truthful, accurate and complete and does notcontain any false statement, misrepresentation or major omission.
I. Informing of the MeetingThe Board of Directors of Jiangling Motors Corporation, Ltd. (hereinafter referred toas “JMC”) sent out relevant proposals of the Board meeting to all the Directors,Supervisors, the members of the Executive Committee and relevant persons on June 27,2023.
II. Time, Place & Form of Holding the MeetingThe Board meeting was held in form of paper meeting from June 27, 2023 to June 30,2023. The procedure of convening and holding the meeting complied with thestipulation of the relevant laws, administrative regulations, department rules, normativedocuments and the Articles of Association of JMC.
III. Status of the Directors Attending the MeetingNine Directors shall attend this Board meeting and nine Directors were present.
IV. ResolutionsThe Directors present at the meeting approved the following resolution in form ofcommunication voting:
The Board of Directors approved the Service Contract for Ford All New F-150 RaptorBetween Jiangling Ford Motor Technology (Shanghai) Co., Ltd., a subsidiary of theCompany, and Ford Motor (China) Ltd.
Whereas Ford Motor Company (“Ford”), representing 32% of the outstanding sharesof the Company, is the second largest shareholder of the Company, and Ford Motor(China) Ltd. is a whole-owned subsidiary of Ford, the transaction herein constitutes arelated party transaction.
When voting on the proposal, Director Shengpo Wu, Director Ryan Anderson andDirector Xiong Chunying withdrew from the voting, and all the other Directors agreedwith this proposal.
Please refer to the Public Announcement on Related Party Transactions of JMCpublished on July 1, 2023 in China Securities, Securities Times, Hong KongCommercial Daily and the website http://www.cninfo.com.cn for details.
V. Opinions from Independent DirectorsPlease refer to the Public Announcement on Related Party Transactions of JMCpublished on July 1, 2023 in China Securities, Securities Times, Hong KongCommercial Daily and the website http://www.cninfo.com.cn for the CompanyIndependent Directors’ opinions on the aforesaid related party transaction.
It is hereby announced.
Board of DirectorsJiangling Motors Corporation, Ltd.July 1, 2023