A few days ago, Sunwoda Electronics Co., Ltd. issued an announcement that a total of 19 investors participated in the new round of capital increase of Sunwoda Electric Vehicle Battery Co., Ltd., of which Jiangsu Chehejia Automobile Co., Ltd. (Ideal Automobile) increased the capital of 400 million yuan.
According to the announcement, the investors in this round agree to increase the capital of the Company in a total amount of RMB2,430,000.00 million (or the equivalent of US dollars, the "Capital Increase") in accordance with the terms and conditions of this Agreement, and subscribe for the new registered capital of the Company totaling RMB1,236,546,000, corresponding to the Company's total equity of 19.5495% after the completion of the Transaction (the "Transaction" or "the Capital Increase"), and the remaining capital increase will be included in the Company's capital reserve. The capital increase of the investor in this round shall be used in full for day-to-day operating funds. The Group Company shall not use the capital increase for any other purpose,
