On September 5, FAW Pengteng Automobile Co., Ltd. successfully finalized its capital increase initiative. Among the contributing investors, Jiangsu Yueda Automobile Group, Agricultural Bank of China Financial Asset Investment Co., Ltd., China Telecom, and Nanjing Horizon Information Technology Co., Ltd. made substantial investments, contributing 1.71 billion yuan, 1 billion yuan, 500 million yuan, and 100 million yuan, respectively. In addition, China FAW Group Co., Ltd. injected an extra 5.24 billion yuan into the project.

Following the capital increase, the combined ownership stake of China FAW and FAW Equity Investment (Tianjin) Co., Ltd. will reach 79.0394%. This round of capital raising successfully amassed a total of 8.55 billion yuan. These funds are earmarked for advancing research and development in new energy technologies, upgrading smart manufacturing capabilities, and constructing a robust channel ecosystem.