Xinli Automotive Electronics (Taizhou) Co., Ltd. announced that it will receive CNY 50 million in funding on February 9, 2022. The transaction will include participation from new investor Hanwei Electronics Group Corporation which will acquire 18.16% stake. Investor held the twenty-sixth meeting of the fifth board of directors, and reviewed and approved the transaction.

Investor will pay the first phase of capital increase of CNY 20 million within 10 working days from the date of signing the investment agreement; 10 work days from the date when all the prerequisites for the second phase of capital increase in the investment agreement are met or exempted within days, investor paid the second phase of capital increase of CNY 30 million.