Changan Automobile plans to raise funds through A-share issuance for new energy vehicle development and global R&D

Changan Automobile announced that it plans to issue A-shares to its actual controller, China North Industries Group Corporation, its controlling shareholder China Changan, and its actual controller subsidiary Southern Assets at a price of 11.78 yuan per share, with an estimated total amount of funds raised of no more than 6 billion yuan. After deducting the issuance costs, these funds will be used for new energy vehicle development and product platform technology upgrade projects and global R&D center construction and core capability improvement projects. The number of shares issued this time is 509 million shares, which does not exceed 30% of the company's total share capital before the issuance. China North Industries Group Corporation intends to subscribe for 1.5 billion yuan, China Changan intends to subscribe for 1 billion yuan, and Southern Assets intends to subscribe for 3.5 billion yuan. The total investment in the new energy vehicle development and product platform technology upgrade project is 613,166.37 million yuan, including new energy vehicle development, SDA digital platform and electric drive system development, covering a variety of models such as sedans, SUVs, and MPVs. The total investment in the global R&D center construction and core capability improvement project is 173,117.00 million yuan, including the global R&D center construction project (Phase II) and the new vehicle test verification capability construction project.