Jiangsu Guoxuan New Energy Technology Co., Ltd. announced that it will receive CNY 1,633,860,800 in an equity round of funding through capital increase from retuning investor Gotion High-tech Co.,Ltd. to retain 100% stake in the company on December 20, 2022. The transaction has been approved at 21st meeting of the eighth board of directors and the 22nd meeting of the eighth board of supervisors of investor. The CNY 1,450,000,000 will be included in the registered capital, and the remaining amount of CNY 183,860,800 will be included in capital reserve.

After the capital increase, the registered capital of company will be increased from CNY 350,000,000 to CNY 1,800,000,000.