Two consecutive limit-ups! Hongchang Technology states that the fund it participated in establishing holds a 5.5046% stake in Zhang Xue's locomotive, with a relatively small impact on the company.

Beijing Business Today (Reporters Ma Huanhuan and Li Jiaxue) On the evening of March 31, Hongchang Technology (301008) disclosed an announcement, stating that over two consecutive trading days (March 30 and March 31), the cumulative closing-price increase deviation value of the company’s stock reached 46.58%, which falls under abnormal stock price fluctuations.

Hongchang Technology said it has noted that, in recent public media reports, there have been many reports about “Zhang Xue motorcycle” winning in the WorldSSP category at the World Superbike Championship (WSBK) Portugal round, and market attention has been high. The reports also covered the company’s indirect investment in “Zhang Xue motorcycle.” In August 2025, as a limited partner, the company and other partners jointly invested in Jinhua Zhejiang Chuang Jin Yi Zhichuang Venture Capital Partnership (Limited Partnership) (hereinafter referred to as “Jinyi Zhichuang Fund”). The total subscribed contribution amount was 503 million yuan. The company subscribed with its own funds of 150 million yuan, representing 29.82%. In January 2026, Jinyi Zhichuang Fund completed its investment in Chongqing Zhang Xue Motorcycle Industrial Co., Ltd., and in March 2026 it completed the industrial and commercial registration change. After the investment was completed, the fund held 5.5046% equity in Zhang Xue motorcycle. This investment by the company is a financial investment, with little impact on the company.

Trading data shows that on March 30 and March 31, Hongchang Technology saw two consecutive trading days closing at the daily price limit. As of the close on March 31, the company’s share price was at the daily price limit of 42.29 yuan per share, and its total market value was 5.538 billion yuan.