On April 8, Zhongheng Electric made a public announcement stating that its major shareholder, Zhongheng Technology Investment, along with its shareholders Zhu Guoding and Bao Xiaoru, have entered into a 'Strategic Investment Cooperation Framework Agreement' with CATL. Under this agreement, CATL intends to subscribe to the newly issued registered capital of Zhongheng Technology Investment for an approximate amount of RMB 4.1 billion. This subscription will encompass a contribution of roughly RMB 1.196 billion, which includes CATL's 99.697% stake in Times Tianyuan and a cash component.

Upon the completion of this capital increase, CATL will acquire a 49% stake in Zhongheng Technology Investment. Notably, Zhu Guoding will retain his position as the controlling shareholder and the actual controller of the company. Furthermore, CATL will nominate one candidate for the board of directors and another for the position of deputy general manager to actively participate in the company's governance structure.

The two entities will engage in pertinent business and strategic collaborations in fields such as green ICT infrastructure, transportation electrification, and new power systems (encompassing computing-power coordination), leveraging their respective strengths and resources to drive mutual growth and innovation.