INVT Electric Vehicle Drive Technology Co., Ltd. announced that it expects to receive CNY 315.000001 million in funding from Shenzhen INVT Electric Co.,Ltd, Shenzhen H&T Intelligent Control Co., Ltd., Hainan Shengyong Investment Partnership Enterprise (Limited Partnership), Shenzhen Zhicheng Luwei Venture Capital Partnership Enterprise (Limited Partnership), Ningbo Haosheng Enterprise Management Partnership (Limited Partnership)

INVT Electric Vehicle Drive Technology (Shenzhen) Co., Ltd. announced that it will issue 58,550,186 common shares at a price of CNY 5.38 per share for the gross proceeds of CNY 315,000,000.68 on April 6, 2023. The transaction will include participation from returning investor Shenzhen INVT Electric Co.,Ltd for CNY 100,000,000 and new investors, Shenzhen H&T Intelligent Control Co., Ltd. for CNY 50,000,000, Hainan Shengyong Investment Partnership Enterprise (Limited Partnership) for CNY 50,000,000, Shenzhen Zhicheng Luwei Venture Capital Partnership Enterprise (Limited Partnership) for CNY 20,000,000, Jiaxing Pengying Phase II Equity Investment Partnership Enterprise (Limited Partnership) for CNY 25,000,000, Chenhui Binhai (Tianjin) Information Venture Capital Fund Partnership Enterprise (Limited Partnership) for CNY 30,000,000, Shenzhen Zhicheng Shuzhi No. 10 Venture Capital Partnership Enterprise (Limited Partnership) for CNY 20,000,000 and Ningbo Haosheng Enterprise Management Partnership Enterprise (Limited Partnership) for CNY 20,000,000.

The transaction has been approved in the the 20th session of Shenzhen INVT Electric Co., Ltd.‘s 6th directorate. Prior capital increase, Shenzhen INVT Electric Co.,Ltd is holding 49.3585% stake. Post capital increase, Shenzhen INVT Electric Co.,Ltd will hold 46.1713% stake, Shenzhen H&T Intelligent Control Co., Ltd. will hold 2.8724% stake, Hainan Shengyong Investment Partnership Enterprise (Limited Partnership) will hold 2.8724% stake, Shenzhen Zhicheng Luwei Venture Capital Partnership Enterprise (Limited Partnership) will hold 1.1490% stake, Shenzhen Zhicheng Shuzhi No.

10 Venture Capital Partnership Enterprise (Limited Partnership) will hold 1.1490% stake, Jiaxing Pengying Phase II Equity Investment Partnership Enterprise (Limited Partnership) will hold 1.4362% stake, Chenhui Binhai (Tianjin) Information Venture Capital Fund Partnership Enterprise (Limited Partnership) will hold 1.7234% stake and Ningbo Haosheng Enterprise Management Partnership (Limited Partnership) will hold 1.149% stake.