Beijing New Energy Automotive Co., Ltd. announced that it has signed an investment agreement for a private placement of 1,200,000,000 common shares at CNY 2.56 per share for gross proceeds of CNY 3,072,000,000 on March 7, 2016. New investor, Shandong Binzhou Bohai Piston Co., Ltd. (SHSE:600960) will subscribe 208,000,000 shares to acquire 6.5% stake in the company. Shenzhen O-film Tech. Co., Ltd. (SZSE:002456) will subscribe 80,000,000 shares to acquire 1.51% stake in the company. Post-closing of the transaction, the company's registered capital will increase from CNY 2,000,000,000 to CNY 3,200,000,000. Pursuant to the transaction, Shandong Binzhou Bohai Piston Co., Ltd. will own 6.5% stake in the company. The transaction has been approved at the 5th meeting of the 6th directorate of Shandong Binzhou Bohai Piston Co., Ltd. As part of the round, the investors will acquire a total of 37.5% stake in the registered capital of the company.

On March 18, 2016, the company announced that the transaction has been approved in the 2016 1st extraordinary shareholders' meeting of Shandong Binzhou Bohai Piston Co., Ltd.

On March 28, 2016, the company announced that the transaction was approved at the 20th special session of the 3rd directorate of Shenzhen O-film Tech. Co., Ltd