Bangjie New Energy Technology Co., Ltd. announced that it will issue common shares for the gross proceeds of CNY 232 million in a round of funding on May 4, 2023. The transaction will include participation from returning investor Zhejiang Bangjie Holding Group Co.,Ltd, Zibo Liangyuan Tuoneng Investment Partnership (Limited Partnership) for CNY 100 million to obtain 6.8306% of its equity and corresponding rights, Shen Zhenyu for CNY 100 million obtain 6.8306% of its equity, Ningbo Tongwei Enterprise Management Partnership (Limited Partnership) for CNY 50 million to obtain 3.4153% of its equity and corresponding interests, Ningbo Tonghong Enterprise Management Partnership (Limited Partnership) for CNY 10 million to obtain 0.6831% of its equity and Corresponding rights and interests and Yangzhou Fenglin Equity Investment Partnership (Limited Partnership) for CNY 4 million to obtain 0.2732% of its equity and corresponding rights and interests. The total investment amount is CNY 464 million and in which Zhejiang Bangjie Holding Group Co.,Ltd.CNY 100 million is included in the registered capital, Zibo Liangyuan Tuoneng Investment Partnership (Limited Partnership) CNY 50 million in registered capital, Shen Zhenyu CNY 50 million in registered capital, Ningbo Tongwei Enterprise Management Partnership (Limited Partnership) CNY 50 million in registered capital, Ningbo Tonghong Enterprise Management Partnership (Limited Partnership) CNY 5 million in registered capital and Yangzhou Fenglin Equity Investment Partnership (Limited Partnership) CNY 2 million in the registered capital, a total of 232 million yuan is included in the registered capital, and 232 million yuan is included in the capital reserve.

The transaction ha been approved in the twenty-sixth meeting of the fifth board of directors of the company. Post completion, the investors will hold Zhejiang Bangjie Holding Group Co.,Ltd for CNY 600,000,000 for 81.9672% stake, Zibo Liangyuan Tuoneng Investment Partnership (Limited Partnership) for CNY 50,000,000 for 6.8306% stake, Shen Zhenyu for CNY 50,000,000 for 6.8306% stake, Ningbo Tongwei Enterprise Management Partnership (Limited Partnership) for CNY 25,000,000 for 3.4153% stake, Ningbo Tonghong Enterprise Management Partnership (Limited Partnership) for CNY 5,000,000 for 0.6831% and Yangzhou Fenglin Equity Investment Partnership (Limited Partnership) for CNY 2,000,000 for 0.2732% stake. The capital increase will be paid in two installments, 50% of the investment will be paid in the first installment, and the remaining 50% of the investment will be paid in the second installment.

The company shall complete the industrial and commercial change registration procedures for this capital increase in accordance with the agreement, and take the date of completion of the industrial and commercial change registration procedures as the delivery date of this capital increase. The registered capital of the company is CNY 500 million. Post completion, it will increase from CNY 500 million to CNY 732 million.