Quanfeng Motor announced that it plans to increase capital by 400 million yuan to its wholly-owned subsidiary Quanfeng Automobile Precision Technology Co., Ltd. through debt-for-equity swaps. The registered capital of Quanfeng Anhui will increase from 740 million yuan to 1.14 billion yuan. The purpose of this capital increase is to meet Quanfeng's production and operation needs in Anhui, enhance its capital strength, reduce debt ratio, and promote business development. Capital increase matters do not need to be submitted to the shareholders' meeting for consideration, and do not constitute related transactions or major asset restructuring. Before and after the capital increase, Quanfeng Motor still held 100% of Quanfeng Anhui's shares.

Quanfeng Motor announced that it plans to increase capital by 400 million yuan to its wholly-owned subsidiary Quanfeng Automobile Precision Technology Co., Ltd. through debt-for-equity swaps. The registered capital of Quanfeng Anhui will increase from 740 million yuan to 1.14 billion yuan. The purpose of this capital increase is to meet Quanfeng's production and operation needs in Anhui, enhance its capital strength, reduce debt ratio, and promote business development. Capital increase matters do not need to be submitted to the shareholders' meeting for consideration, and do not constitute related transactions or major asset restructuring. Before and after the capital increase, Quanfeng Motor still held 100% of Quanfeng Anhui's shares.