Anhui Jianghuai Songzhi Air Conditioning Co., Ltd. announced that it will receive CNY 140 million in equity round of funding on October 22, 2021. The transaction will include participation from existing investor Songz Automobile Air Conditioning Co., Ltd. to retain its 65% stake and Anhui Jianghuai Automobile Group Corp.,Ltd. to retain its 35% stake. Upon closing, the registered capital of the company will increase from CNY 60 million to CNY 140 million.

The transaction has been approved in the ninth meeting of the fifth session of the board of directors and does not need to be submitted to the general meeting of shareholders for approval.