Jiangsu Housheng New Energy Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 273,000,000 on December 11, 2020. The transaction involved participation from returning investors Changzhou Dingying Investment Partnership Enterprise (Limited Partnership) for CNY 84,000,000 and will subscribe for additional registered capital of CNY 80,000,000 and obtain 9.3% stake, Changchai Company, Limited (SZSE:000570) for CNY 26,250,000 for additional registered capital of CNY 25,000,000 and obtain 2.91% stake, Changzhou Investment Group Co.,Ltd for CNY 26,250,000 for additional registered capital of CNY 25,000,000 and obtain 2.91% stake, Shenzhen Zhaoyin No.1 Innovation Venture Capital Partnership Enterprise(Limited Partnership), a fund managed by CMB International Capital Management (Shenzhen) Co, Ltd. for 104,000,000 for additional registered capital of CNY 99,047.6 and obtain 11.52% stake, Shenzhen CMB Win-Win Equity Investment Partnership (Limited Partnership) for CNY 1,000,000 for additional registered capital of CNY 952,400 and obtain 0.11% stake, and Changzhou Huajun Industrial Investment Partnership (Limited Partnership) for CNY 31,500,000, for additional registered capital of CNY 30,000,000 and obtain 3.49% stake. The rest of the amount from investment will be added to the capital reserve fund. The transaction has been approved by the board of directors of the Changchai Company, Limited (SZSE:000570). The transaction is not subject to submit to the Changchai Company, Limited (SZSE:000570)’s general meeting of shareholders for deliberation in this investment.