Guangdong Didu New Energy Co., Ltd announced a private placement of CNY 90,000,000 on May 20, 2023. The company will issue common shares in the transaction. The transaction will include participation from new investor Beijing Changjiu Logistics Co.,Ltd for CNY 90,000,000 and will acquire 51% stake in the company.

The company's registered capital of CNY 2,289,293 is equivalent to 22.89% stake before the capital increase and 14.55% after the capital increase. The company will increase its registered capital will increase from CNY 10,000,000 to CNY 15,736,138. The transaction has been approved in the 23rd Meeting of the Company?s 4th Directorate, and is subject to the shareholders?

approval.