Shanghai Baolong Automotive Technology (Anhui) Co., Ltd. announced that it will raise CNY 100 million in an equity round of funding on April 25, 2023. The transaction will include participation from returning investor, Shanghai Baolong Automotive Corporation. Post the completion of transaction, the registered capital of the company will be increased from CNY 600 to CNY 700 million.

The transaction has been has been reviewed and approved at the second meeting of the seventh board of directors and the second meeting of the seventh board of supervisors.