Foshan ZhongDa Leader Drive Technology Co., Ltd announced that it will receive CNY 115 million in a round of funding on May 19, 2023. The company will issue common shares in the transaction. The transaction will include participation from returning investor, Ningbo ZhongDa Leader Intelligent Transmission Co., Ltd. Among them, CNY 40 million is included in the registered capital and the remaining CNY 75 million is included in the capital reserve.

After the capital increase, the registered capital of the company will be CNY 100 million and the company still holds 100% of the equity of Foshan Zhongda. The transaction has been approved by the ninth meeting of the third board of directors and the ninth meeting of the third board of supervisors.