YIXIN Group (02858) has announced that on March 2, 2026, the company issued a conversion notice to Yusheng in accordance with the terms of the convertible notes, exercising in full the conversion rights attached to these notes. The completion of the conversion is conditional upon the finalization of the Yusheng restructuring. Upon conversion, the company will hold a total of 15.15 million Pre-A Series preferred shares, 548,700 Series B preferred shares, and 463,000 Series C-2 preferred shares, collectively representing approximately 44.23% of Yusheng's enlarged share capital following the restructuring. The converted preferred shares do not carry voting rights. After the conversion is completed, YIXIN Group will no longer control Yusheng nor possess significant influence over it. Consequently, Yusheng's financial results will not be consolidated into the company's accounts. YIXIN Group initially subscribed to the convertible notes issued by Yusheng in 2018. The company holds a positive outlook on the future growth potential of China's used car market. Through the conversion, YIXIN Group, as a shareholder of Yusheng, stands to benefit from the further development and expansion of Yusheng's used car transaction business.