Lates News

On August 19th local time, Lutess Technology Co., Ltd. announced that it has signed a securities purchase agreement with the investment firm ATW Partners based in New York. According to the agreement, the company will issue up to $300 million of convertible notes to ATW Partners, which can be converted into company common stock and held in the form of American Depositary Shares (ADS). As previously announced, the company also signed a "Master Credit Framework Agreement" with Zhejiang Geely Holding Group Co., Ltd. on July 28, 2025. According to the agreement, Geely has agreed (including through its subsidiaries) to provide a non-revolving credit facility of up to RMB 1.6 billion (approximately $200 million) to the company and its subsidiaries.