intends to issue A-shares to specific targets to raise funds of no more than 5 billion yuan for projects including an annual output of 20GWh power battery.

Guoxuan High-tech announced that it plans to issue A-shares to specific investors to raise funds of up to 5 billion yuan. After deducting issuance expenses, the raised funds will be used for the annual production of 20GWh power battery project, Guoxuan High-tech's 20GWh new energy battery base project, new type of lithium-ion battery manufacturing base project and for supplementary working capital.