Jiangsu Meier Automotive Parts Co., Ltd Announced that it will receive CNY 15,000,000 in an equity round of funding from returning investor Jiang Su New Technology Co., Ltd. on July 14, 2022. On closing, the investor retains its 100% stake in the company. The total gross proceeds of which CNY 6,600,000 is included in the registered capital, and CNY 8,400,000 is included in the capital reserve.

After the completion of this capital increase, the registered capital of company has been changed from CNY 160,000,000 to CNY 166,600,000. The transaction has been approved by 16th meeting of the second board of directors and the 10th meeting of the second board of supervisors.