Westfalia Metal Components (Shanghai) Co. Ltd. announced a private placement of CNY 46,000,000 on July 23, 2021. The transaction included participation from returning investor Hamaton Automotive Technology Co.,Ltd. The company will issue common shares in the transaction.

The company will use CNY 23,976,015 for paid-in registered capital, and CNY 22,023,985 to increase registered capital. Post the closing of the transaction, the registered capital of the company will increase from CNY 30,000,000 to CNY 52,023,985. The transaction has been approved at the 22nd meeting of the second board of directors and the 19th meeting of the second board of supervisors.