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Caifeng news agency, November 14th (Reporter Lu Tingting) Zhuhai Enpower Electric (300681.SZ) announced today that it plans to participate in the private placement of Ehang Intelligent (Nasdaq: EH) with 12.6 million US dollars. Ehang Intelligent stated that Zhuhai Enpower Electric's strategic investment is based on its recent announcement of a long-term strategic cooperation and technical development agreement with Ehang Intelligent, aiming to jointly develop high-performance electric propulsion systems for Ehang Intelligent's electric vertical take-off and landing (eVTOL) aviation series.

It is reported that Zhuhai Enpower Electric's innovative 'integrated core' technology will help further optimize the electric machine solutions of Ehang Intelligent eVTOL, achieving lightweight, high power, strong heat dissipation integrated design, and applicable to various eVTOL products of Ehang Intelligent.

Zhuhai Enpower Electric announced this evening that the company has signed a share subscription agreement with Ehang Intelligent, planning to use its own funds of 12.6 million US dollars to subscribe for Ehang Intelligent's privately placed shares. The subscription has completed the relevant overseas direct investment (ODI) approval procedures and the relevant forex procedures with the State Administration of Foreign Exchange (SAFE). The company agrees not to sell the Ehang Intelligent shares purchased under the agreement to third parties within 180 days after the settlement.

Zhuhai Enpower Electric stated that this subscription was implemented on the premise of ensuring the daily operational fund usage needs and the safety of cash management funds, and will not affect the company's main business development. By participating in Ehang Intelligent's private placement, both parties will further establish a comprehensive and in-depth strategic partnership.

It is worth noting that Ehang Intelligent announced today that it has received a total of more than 22 million US dollars in strategic investment. In addition to Zhuhai Enpower Electric, Ehang Intelligent also received an investment from an institution from the Middle East.

After this round of strategic investment, Ehang Intelligent has raised nearly 0.1 billion US dollars in total so far this year. The financing funds will be used to advance the research and development of the company's next-generation eVTOL technology and products, expand production, grow the team, establish new headquarters and operating sites, and support general company operations.

Ehang's chief financial officer Yang Jiahong said, "This will help us seize the huge urban air transport market opportunities and accelerate our development pace. In addition, the support from this round of strategic investors in the upstream industry chain and the downstream international market expansion will help us enhance our competitive advantage".