Jiangsu Jiangzhou Auto Parts Co., Ltd. announced that it has entered into a capital increase agreement and it will receive CNY 80,000,000 in an equity round of funding on January 22, 2024. The transaction will include participation from new investor, Jiangsu TongLin Electric Co.,Ltd. The funds raised through capital increase agreement of which CNY 10,408,200 is included in the new registered capital, and the total registered capital will increase from CNY 10,000,000 to CNY 20,408,200. After the capital increase is completed, the investor will hold 51% of the equity of the company, and the company will become a holding subsidiary of the investor The transaction has been approved at the 29th meeting of the fourth board of directors and the 28th meeting of the fourth board of supervisors and shareholders meeting does not review and approved.