Jilin Linglong Tyre Co., Ltd. announced that it will receive CNY 1,000,000,000 in equity round of funding on April 1, 2022. The transaction will include participation from existing investor Shandong Linglong Tyre Co.,Ltd. to retain its 100% stake. Upon closing, the registered capital of the company will increase from CNY 200,000,000 to CNY 500,000,000.

The premium of CNY 700,000,000 of the capital increase will be included in the capital reserve. The transaction has been approved in the thirty-third meeting of the fourth session of the board of directors.