Anhui Ankai Automobile Co., Ltd announced that it signed on a subscription agreement to issue domestic listed A shares not more than CNY 1,000,000,000 on August 15, 2022. The transaction will include participation from returning investor, Anhui Jianghuai Automobile Group Corp.,Ltd. The investor will have more than 25.20% stake in the company. The transaction was approved by the company's 8th directorate in its 16th meeting and subject to approval from state-owned asset supervisory agency or its authorized entity, approval from its shareholders, approval from board of directors of investor, and approval from China Securities Regulatory Commission.

The investor shall not transfer the shares subscribed for a period of 36 months from the completion of issuance.