On November 27, FAW Jiefang made an announcement stating that its wholly-owned subsidiary, FAW Jiefang Automotive Co., Ltd. (referred to as Jiefang Limited hereafter), has plans to inject RMB 191 million in cash as a capital increase into Jiefang Era New Energy Technology Co., Ltd. In a concurrent move, CATL, an existing shareholder of Jiefang Era, along with TELD, a newly-brought-in investor, will also join in this capital increase endeavor. This collective action will result in a total capital increase of RMB 412 million by the three entities. Following the capital injection, the shareholding percentages of both Jiefang Limited and CATL will be adjusted to 47.0270%, whereas TELD will hold a 5.9460% stake. The primary objective behind this capital increase is to bolster Jiefang Era's financial robustness, facilitate the development of the ecological and industrial chains for new energy commercial vehicles, and consequently, elevate the company's overall competitive edge in the market.