Sinotruk Chongqing Fuel System Co., Ltd. announced that it has entered into a capital increase agreement for gross proceeds of CNY 333,333,333.34 on June 22, 2022. The transaction will include participation from returning investors, Weichai Power Co., Ltd. for proceeds of CNY 200,000,000 to acquire 60% stake in the company and Sinotruk Ji'nan Power Co., Ltd. for proceeds of CNY 133,333,333.34 to acquire 40% stake in the company. The transaction is not subject to shareholders approval of the investor.

The transaction is subject to approval from regulatory authorities of China. Post the closing the registered capital of the company will increase from CNY 338,485,849.61 to CNY 496,263,814.90.