Shenyang Jin Hong Shun Auto Parts Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 35 million on December 28, 2022. The transaction included participation from returning investor Suzhou Jin Hong Shun Auto Parts Co., Ltd. Post closing, the registered capital of the company will increase from CNY 15 million to CNY 50 million. The transaction has been approved by the third meeting of the third board of directors of Suzhou Jin Hong Shun Auto Parts Co., Ltd.

On January 18, 2022, the company completed the industrial and commercial registration procedures for the legal representative and registered capital, and obtained The Business License issued by the market supervision and management of Dadong District, Shenyang City.