CATL's subsidiary changed its name and increased capital substantially to expand its business scope

Ningde Runkang Technology Co., Ltd. recently changed its industrial and commercial registration and changed its name to Ningde Funing Times New Energy Co., Ltd., while increasing its registered capital from RMB 10 million to RMB 3 billion, an astonishing increase of 29,900%. The company's business scope has also changed, and now includes battery manufacturing, battery sales, and emerging energy technology research and development. The legal representative of this change is Zhang Le, and several senior executives have changed. The company was established in June 2020 and is wholly owned by CATL.