19 companies invested 2.43 billion yuan to increase the capital of Xinwangda Battery

Xinwanda Electronics Co., Ltd. (hereinafter referred to as "Xinwanda" or "the Company") held the 26th meeting of the 5th Board of Directors and the 26th meeting of the 5th Board of Supervisors on February 23, 2022, and reviewed and approved the "Proposal on the Capital Increase of Xinwanda Electric Vehicle Battery Co., Ltd.":

Agree that Tianjin Harmonious Haihe Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Harmonious Haihe"), Jiangsu CHJ Automobile Co., Ltd. (hereinafter referred to as "CHJ"), SkyTop LLC (hereinafter referred to as "SkyTop"), Suzhou Weirui Venture Capital Partnership (Limited Partnership) (hereinafter referred to as "Weirui Investment"), Xunxing Investment (Chongqing) Co., Ltd. (hereinafter referred to as "Xunxing Investment"), Zhuhai Ruihai Yuneng Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Ruihai Yuneng"), Jiaxing Qichen Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Jiaxing Qichen"), Qingdao Hengjunrui Private Equity Investment Fund Partnership (Limited Partnership) (hereinafter referred to as "Hengjunrui"), Wuxi SAIC Jinshi Innovation Industry Fund Partnership (Limited Partnership) (hereinafter referred to as "SAIC Jinshi"), Zhejiang Huayou Holding Group Co., Ltd. (hereinafter referred to as "Huayou Holding"), Ningbo Meishan Free Trade Zone Aowen Investment Management Partnership (Limited Partnership) (hereinafter referred to as "Aowen Investment"), Guangzhou Guangqi Xindian Partnership (Limited Partnership) (hereinafter referred to as "Guangqi Xindian"), Tianjin Hesheng Equity Investment Partnership (Limited Partnership) (hereinafter referred to as “Hesheng Investment”), Qingdao Xinwang Green New Energy Investment Partnership (Limited Partnership) (hereinafter referred to as “Xinwang Green”), Xinzhifeng (Wuhan) Equity Investment Fund Partnership (Limited Partnership) (hereinafter referred to as “Xinzhifeng Investment”), Dongfeng Jiaoyin Yuanjing Automotive Industry Equity Investment Fund (Wuhan) Partnership (Limited Partnership) (hereinafter referred to as “Jiaoyin Yuanjing”), Foshan Chengyu Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as “Foshan Chengyu”), Shenzhen Hongtu Yuechuan Equity Investment A total of 19 companies, including Hongtu Yuechuan Investment Fund Partnership (Limited Partnership) (hereinafter referred to as "Hongtu Yuechuan"), Shenzhen Capital Investment Group Co., Ltd. (hereinafter referred to as "Shenzhen Capital"), invested a total of RMB 2,430 million to increase capital in Xinwangda Electric Vehicle Battery Co., Ltd. (a subsidiary of Xinwangda, hereinafter referred to as "Xinwangda Automotive Battery" or "subsidiary"), and subscribed for an additional registered capital of RMB 1,236,546,000 in Xinwangda Automotive Battery, corresponding to a total of 19.5495% of the equity of Xinwangda Automotive Battery after the completion of this capital increase.

After the completion of this capital increase, the registered capital of Xinwangda Automotive Battery will increase from RMB 508,866.66 million to RMB 632,521.26 million. After the completion of this capital increase, the equity ratio of Xinwangda Automotive Battery held by the company's subsidiary Xinwangda Huizhou New Energy Co., Ltd. will change from 71.5315% to 57.5475%, and Xinwangda Automotive Battery will still be a holding subsidiary within the scope of the company's consolidated financial statements.