Jiangsu Daye New Energy Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 250 million on January 23, 2022. The transaction will include participation from returning investor Jiangsu Daybright Intelligent Electric Co.,LTD. Post the closing, the registered capital of the company will be increased from CNY 50 million to CNY 300 million. The transaction has been approved at the 14th meeting of the third board of directors of Jiangsu Daybright Intelligent Electric Co.,LTD.