Dolly Technology announces large-scale capital increase for four subsidiaries

On December 5, Chuzhou Dolly Automotive Technology Co., Ltd. (Doli Technology) announced plans to increase capital in its four wholly-owned subsidiaries, Anhui Daya Auto Parts Co., Ltd. (Anhui Daya), Changzhou Dolly Auto Parts Co., Ltd. (Changzhou Dolly), Yancheng Dolly Auto Parts Co., Ltd. (Yancheng Dolly) and Yantai Dashi Auto Parts Co., Ltd. (Yantai Dashi), by using its own funds or debt-to-equity conversion, with a total amount of RMB 665 million. Among them, Anhui Daya will receive RMB 360 million, Changzhou Dolly will receive RMB 197 million, Yancheng Dolly will receive RMB 70 million, and Yantai Dashi will receive RMB 38 million. After the capital increase is completed, the four companies will continue to remain wholly-owned subsidiaries of Dolly Technology.