Anqing Heli Axle Co., Ltd. announced that it it has signed a purchase agreement to receive CNY 350 million in an equity round of funding on April 8, 2024. The transaction will include participation from returning investor Anhui Heli Co.,Ltd. to retain the majority stake in the company. The registered capital of the company is CNY 120 million.

This has been approved in the 34th meeting of the 10th Board of Directors of Anhui Heli Co.,Ltd. The company will raise the money in tranches. In the first phase, the company will receive CNY 180 million, which will be added to registered capital, and in the second phase, the company will receive CNY 170 million, which will be added to capital reserve. The registered capital of the company will increase from CNY 120 million to CNY 300 million.

This transaction is within the decision-making authority of the board of directors and does not need to be submitted to the Anhui Heli Co.,Ltd.'s shareholders' meeting for review.