Jiangxi Jinfei Wheel Co., Ltd. announced a placement of common shares for gross proceeds of CNY 50,000,000 on July 11, 2023. The transaction will include participation from returning investor, Zhejiang Jinfei Kaida Wheel Co.,Ltd. The transaction has been approved at the 40th meeting of Zhejiang Jinfei Kaida Wheel Co.,Ltd.'s fourth directorate, and does not need the shareholders’ approval. Through the transaction, the company's registered capital will increase from CNY 50,000,000 to CNY 100,000,000.