Harbin Dongan Auto Engine Co.,Ltd announced that it has entered into share subscription agreement for issue of 70,652,173 A shares at issue price of CNY 5.52 per share for gross proceeds of CNY 389,999,994 on February 28, 2023. The transaction included participation from Beiqi Foton Motor Co.,Ltd. for CNY 349,999,999 and returning investor China Changan Automobile Group Co., Ltd. for CNY 39,999,995. The shares cannot be transferred within 36 months from the issuance closing date.