Chongqing Ruichi Automotive Industry Co., Ltd. signed a capital increase agreement to receive CNY 1,210,000,000 in an equity round of funding on December 28, 2023. The transaction will include participation from new investors, Hichain Logistics Co.,Ltd. for CNY 150,000,000 for 3.30% stake out of which CNY 15,000,000 will go towards the registered capital, Chongqing Liangjiang Equity Investment Fund Management Co., Ltd. for CNY 460 million for 10.130% stake out of which CNY 46 million will go towards the registered capital, Green Fund for CNY 450 million for 9.910% stake out of which CNY 45 million will go towards the registered capital, Chongqing Well-off Holding Co.,Ltd. for 6.610% stake, Qianzhan Hengyuan for CNY 100 million for 2.20% stake out of which CNY 10 million will go towards the registered capital and BOE Fund for CNY 50 million out of which CNY 5 million will go towards the registered capital. The registered capital of the company before capital increase is CNY 200,000,000 and the transaction does not need to be submitted to shareholders' meeting for review.

The transaction has been approved at the 8th meeting of the 5th board of directors of Seres Group Co.,Ltd.