Group 1: Investment Overview - Zhejiang Chunfeng Power Co., Ltd. has approved an external investment plan during its board meeting and annual shareholders' meeting held on April 15 and May 7, 2025, respectively [2] - The company’s wholly-owned subsidiary, Zhejiang Jihuo Intelligent Equipment Co., Ltd., has successfully acquired the state-owned land use rights for three plots in Tongxiang City, with the total acquisition costs amounting to RMB 49 million, 119 million, and 117 million [3][4] Group 2: Land Auction Details - The land acquired is located in Chongfu Town, Tongxiang City, with a total area of 1,797.72 square meters, 4,375.82 square meters, and 4,299.95 square meters for the respective plots [4] - The land is designated for industrial use with a lease term of 50 years [4] Group 3: Strategic Impact - The acquisition of land is aimed at expanding production capacity for motorcycles and electric vehicles, aligning with national industrial policies and market trends [5] - This strategic move is expected to enhance production capacity, optimize product structure, and improve market competitiveness and profitability, while diversifying the company's industrial layout to mitigate operational risks [5] Group 4: Employee Stock Ownership Plan - The first meeting of the 2025 Employee Stock Ownership Plan was held on July 29, 2025, with full attendance from the plan's holders, representing 18 million shares, which is 100% of the total plan [7][8] - The meeting approved the establishment of a management committee for the employee stock ownership plan to oversee daily management and protect the rights of the holders [9] - The committee was authorized to handle various matters related to the employee stock ownership plan, including convening meetings, managing daily operations, and representing holders in shareholder rights [10][11]

Group 1 - The company has approved an external investment plan to acquire land use rights in Qianjiang City, which aligns with its strategic goals [1][2] - The company’s wholly-owned subsidiary, Zhejiang Jikong Intelligent Equipment Co., Ltd., successfully participated in a bidding process for land, acquiring it for RMB 490,000 [2] - The purchased land will be used for expanding production capacity for motorcycles and electric vehicles, which is in line with national industrial policies and industry development trends [2] Group 2 - The investment is expected to enhance the company's production capacity, optimize product structure, and improve market competitiveness and profitability [2] - The diversified industrial layout will help mitigate operational risks and strengthen the company's resilience against market fluctuations [2] - The company will comply with relevant regulations and fulfill its information disclosure obligations in a timely manner [2]

Group 1 - The core issue revolves around a dispute between Jiangsu-based electric vehicle dealer and the manufacturer, Jike, regarding the alleged remote locking of vehicles and contractual obligations [1][3][4] - The dealer, Mr. Wang, claims that after closing his store due to poor sales, the manufacturer locked 80 vehicles remotely, rendering them partially unusable, leading to significant financial losses exceeding 300,000 yuan [1][6] - Jike's official statement refutes the claims of remote locking, stating that the dealer breached the contract by altering the store's branding without notification, thus justifying the suspension of the dealer's DMS (Dealer Management System) access [2][4][5] Group 2 - Jike, a brand under Chunfeng Power, reported a significant increase in sales, achieving 106,000 units sold and revenue of 397 million yuan in 2024, marking a year-on-year growth of 414.15% [6] - Chunfeng Power's financial performance has been steadily improving, with revenues of 11.38 billion yuan, 12.11 billion yuan, and 15.04 billion yuan from 2022 to 2024, alongside net profits of 790 million yuan, 970 million yuan, and 1.44 billion yuan respectively [7] - The company has a vast sales network, with over 5,000 retail terminals globally and more than 1,400 domestic dealers, indicating a robust distribution strategy [8]

Core Viewpoint - The dispute between Chuanfeng Power and its dealer Wang Xianghua regarding the "remote locking" of electric vehicles has raised significant concerns in the market, highlighting issues of contract compliance and brand support [2][3][4]. Company Overview - Chuanfeng Power, headquartered in Hangzhou, Zhejiang, is engaged in the research, manufacturing, and sales of large-displacement motorcycles, all-terrain vehicles, and new energy motorcycles [3]. - The Jike brand, launched in 2020, focuses on electric motorcycles, lightweight electric motorcycles, and new national standard electric bicycles [3]. Dispute Details - Wang Xianghua claims that after closing his Jike brand store due to poor performance, the manufacturer implemented a "remote locking" measure on the inventory vehicles, which Jike denies [2][4]. - Jike stated that Wang's company, Xinding New Energy, breached the contract by unauthorized modifications to the brand's image store, leading to a demand for the return of store investment [3][4]. Financial Aspects - Jike provided approximately 130,000 yuan in store construction subsidies to Wang, who paid a 50,000 yuan deposit and part of the inventory cost [4]. - Wang is seeking a reconciliation of funds, while Jike demands a 130,000 yuan penalty for breach of contract [4]. Market Position - Jike's electric vehicles are priced from several thousand to tens of thousands of yuan, with a total sales volume of 106,000 units in 2024, significantly lower than competitors like Ninebot and Niu, which sold 2.5989 million and 924,300 units respectively [6]. - Wang noted that the brand's market recognition is low, and the demand for high-end electric vehicles in his county is limited, compounded by inadequate support from Jike [6]. Inventory Issues - Wang currently holds over 80 Jike inventory vehicles valued at 300,000 yuan, which he claims were purchased under pressure from the manufacturer [6].