Chongqing Livan Automotive Technology Co., Ltd. announced that it has entered into a capital increase agreement to raise CNY 850 million in a round of funding on June 19, 2023. The transaction includes participation from returning investors, Lifan Technology(Group)Co.,Ltd. for CNY 494,175,400 and Geely Automobile Holdings Limited for CNY 355,824,600. The stake of Lifan Technology(Group)Co.,Ltd. and Geely Automobile Holdings Limited will be 55% and 45% respectively post closing of the transaction.

After the capital increase, company's registered capital will increase from CNY 600,000,000 to CNY 1,450,000,000. The transaction has been approved at the Lifan Technology(Group)Co.,Ltd. 22nd session of the 5th directorate and the 17th session of the 5th supervisory board.