New York, Oct. 29, 2025 — CHIJET MOTOR COMPANY, INC. (NASDAQ: CJET) (“Chijet” or the “Company”) today announced its plan to implement a one hundred (100)-for-one (1) share consolidation of its issued and unissued ordinary shares, each with a par value of US$0.3, effective November 3, 2025.
At its annual general meeting on September 24, 2025, the Company’s shareholders voted to approve (1) a share consolidation of its issued and unissued shares, with a ratio of up to 100-for-1 (the “Range”). This means that up to one hundred (100) Class A ordinary shares, each with a par value of US$0.003, would be combined into one (1) Class A ordinary share with a par value not exceeding US$0.3, and similarly, up to one hundred (100) Class B ordinary shares, each with a par value of US$0.003, would be combined into one (1) Class B ordinary share with a par value not exceeding US$0.3 (the “Share Consolidation”). The exact whole-number ratio within this Range is to be determined by the Company’s board of directors at its sole discretion, and the board will be responsible for implementing this Share Consolidation. The shareholders also approved (2) a change of the Company’s name from “CHIJET MOTOR COMPANY, INC.” to “Digital Currency X Technology Inc.” (the “Change of Name”), conditional upon approval from the Registrar of Companies in the Cayman Islands (the “Cayman Registrar”) and effective from the date the Cayman Registrar issues the certificate of incorporation for the name change. Lastly, (3) subject to the approval of both Resolution 1 and Resolution 2, and entirely contingent on the Share Consolidation and Change of Name becoming effective, the Company’s current Second Amended and Restated Memorandum and Articles of Association will be entirely superseded by the Third Amended and Restated Memorandum and Articles of Association. The Company’s board of directors has since further resolved to implement the one hundred (100)-for-one (1) share consolidation for its issued and unissued ordinary shares, par value US$0.3 per share.
Chijet anticipates that its Class A ordinary shares will begin trading on the Nasdaq Capital Market on a consolidation-adjusted basis when the market opens on November 3, 2025. A new CUSIP number, G4465R 129, has been assigned to the Company’s Class A ordinary shares following the Share Consolidation.
The Share Consolidation will uniformly affect all of the Company’s issued and outstanding ordinary shares. Equiniti Trust Company, LLC., Chijet’s transfer agent, is appointed as the exchange agent for the Share Consolidation. Shareholders holding their shares in book-entry form or in “street name” (i.e., through a broker, bank, or other record holder) are not required to take any action. The Share Consolidation will apply equally to all shareholders and will not alter any shareholder’s proportional equity interest in the Company. No fractional shares will be issued; instead, shareholders who would otherwise receive a fractional share will have their entitlement rounded up to the nearest whole share.
The Company expects that the Share Consolidation will result in an increase in the market price per share of its Class A ordinary Shares.
Registered shareholders possessing pre-consolidation shares of the Company are not required to take any action to receive their post-consolidation shares. Shareholders who own shares through a broker, bank, trust, or other nominee will have their holdings automatically adjusted to reflect the share consolidation, and no action will be necessary on their part in connection with this share consolidation.
About Chijet Motor Company, Inc.
Chijet’s primary operations encompass the development, manufacturing, sales, and servicing of traditional fuel vehicles and New Energy Vehicles (NEVs). The Company’s advanced manufacturing systems and robust supply chain management enable it to provide consumers with high-performance products at competitive prices. In addition to its large, modern vehicle production base in Jilin, China, a factory in Yantai, China, will be dedicated to NEV production upon its completion. Chijet is led by a management team of industry veterans boasting decades of experience across engineering, design, management, financing, industrial production, and financial management. For more information about Chijet, please visit .
Forward-Looking Statements
This press release contains forward-looking statements as defined under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, developed in accordance with the ‘safe harbor’ provisions of the Private Securities Litigation Reform Act of 1995. These statements, which reflect the Company’s projections concerning its future financial and operational performance, use terms such as ‘believes,’ ‘estimates,’ ‘anticipates,’ ‘expects,’ ‘plans,’ ‘projects,’ ‘intends,’ ‘potential,’ ‘target,’ ‘aim,’ ‘predict,’ ‘outlook,’ ‘seek,’ ‘goal,’ ‘objective,’ ‘assume,’ ‘contemplate,’ ‘continue,’ ‘positioned,’ ‘forecast,’ ‘likely,’ ‘may,’ ‘could,’ ‘might,’ ‘will,’ ‘should,’ ‘approximately,’ and similar expressions to convey the inherent uncertainty of future events or outcomes. These forward-looking statements are founded on the Company’s current expectations, assumptions, and projections, involving assessments of future economic conditions, competitive landscapes, market dynamics, and business decisions, many of which are inherently challenging to predict accurately and are largely beyond the Company’s control. Furthermore, these statements are subject to a multitude of known and unknown risks, uncertainties, and other variables that could cause the Company’s actual results to significantly diverge from those portrayed in any forward-looking statement. These factors include, but are not limited to, varying economic conditions, competitive pressures, and regulatory changes. Due to these and other risks, uncertainties, and assumptions, undue reliance should not be placed on these forward-looking statements. Additionally, these statements are current only as of the date of this press release and, except as may be required by law, the Company assumes no obligation to publicly revise or update any forward-looking statements for any reason.
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
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