Sailun Wheel Tire Sales Co., Ltd. announced a private placement of CNY 1,000,000,000 on April 27, 2023. The company will issue common shares in the transaction. The transaction included participation from returning investor Sailun Group Co., Ltd. for CNY 1,000,000,000.

The registered capital will increase from CNY 50,000,000 to CNY 1,050,000,000. This has been approved in the 4th meeting of the company’s 6th Directorate held on April 27, 2023, and does not need the Shareholders’ approval.