Haoneng Group: Plans to increase the capital of its wholly-owned subsidiary Chongqing Haoneng by 100 million yuan.

HaoNeng Co., Ltd. announced on the evening of August 12 that the company plans to increase the capital of its wholly-owned subsidiary Chongqing HaoNeng Transmission Technology Co., Ltd. by 100 million yuan with its own funds. After the capital increase, the registered capital of Chongqing HaoNeng will be increased from 170 million yuan to 270 million yuan, still being a wholly-owned subsidiary of the company. This capital increase will mainly be used for the construction of the core components of Chongqing HaoNeng's intelligent manufacturing project, to accelerate the technological breakthroughs and production capacity building of the new energy vehicle and robot businesses. The capital increase will be used to expand the production capacity of robot reducers, build intelligent production lines, and help related products seize market share.