On September 24, Gelonghui announced that recently, Hefei Dongcheng Industrial Investment Co., Ltd. (referred to as "Dongcheng Investment"), Guangzhou Kaidexin New Energy Industrial Investment Partnership Enterprise (Limited Partnership) (referred to as "Kaidexin New Energy"), and the company's wholly-owned subsidiary, Shanziautos Industry Group Co., Ltd. (referred to as "Shanziautos"), Ningbo Zhidao New Energy Industrial Investment Partnership Enterprise (Limited Partnership) (referred to as "Zhidao New Energy"), Anhui Zhidao New Energy Technology Co., Ltd. (referred to as "Zhidao Technology" or "the target company") jointly signed the "Capital Increase Agreement". According to the agreement, Zhidao Technology will introduce strategic investors Dongcheng Investment and Kaidexin New Energy by way of capital increase and share expansion.

Dongcheng Investment and Kaidexin New Energy will invest 330 million yuan in the target company, acquiring 9.09% equity of the target company, including: (1) Kaidexin New Energy plans to invest 30 million yuan in the target company, with 4.5455 million yuan included in the registered capital and 25.4545 million yuan included in capital reserve; (2) Dongcheng Investment plans to invest 300 million yuan in the target company, with 45.4545 million yuan included in the registered capital and 254.5455 million yuan included in capital reserve. All parties confirm that after this capital increase is completed, the registered capital of the target company will increase from 500 million yuan to 550 million yuan.