Lates News

It was learned from the Beijing Property Rights Exchange that FAW Pentium Automotive Co., Ltd.'s capital increase project was completed on September 5th. Jiangsu Yueda Automotive Group Co., Ltd. invested 1.71 billion yuan in the project, with China Agricultural Bank's investment platform Nongyin Financial Assets Investment Co., Ltd., China Telecom Corporation Limited, and Nanjing Horizon Information Technology Co., Ltd. each investing 1 billion yuan, 500 million yuan, and 100 million yuan respectively. After the simultaneous capital increase of 52.4 billion yuan by China First Automobile Co., Ltd., China FAW and FAW Investment (Tianjin) Co., Ltd. jointly hold 79.0394% of the shares. The total raised funds of 8.55 billion yuan in this capital increase will be mainly used for research and development of new energy technologies, upgrading of intelligent manufacturing, and channel ecosystem construction.