Sichuan Yuehua New Energy Technology Co., Ltd. announced that it expects to receive CNY 70 million in funding from Sichuan Dowell Science and Technology Inc. and other investors.

Sichuan Yuehua New Energy Technology Co., Ltd. announced that it will issue 25,925,926 common shares at an issue price of CNY 2.70 per share for the gross proceeds of CNY 70,000,000 on December 7, 2023. The transaction will include participation from new investors Sichuan Dowell Science and Technology Inc.,Sichuan Yuehua Investment Management Co., Ltd.,individual investors Yang Tiancheng,Huang Huanping,Yu Haifeng,Li Jintang,Huang Weisheng,Chen Shi,Xu You and Other Investors. The transaction has been approved by the 7th Meeting of the Company?s 6th Directorate.

Sichuan Dowell Science and Technology Inc. will invest CNY 20,000,000.