JAC Motors plans to raise 4.9 billion yuan through private placement for the development of high-end intelligent electric platforms

On January 14, JAC Motors announced plans to raise no more than 490,000 yuan through a private placement to develop its high-end smart electric platform. The target of this issuance is 35 specific investors that meet the requirements of the China Securities Regulatory Commission, including various financial institutions and qualified investors. The total investment in the project is 587,459 million yuan, including 356,659 million yuan in design and development fees, 28,639 million yuan in testing fees, 92,517 million yuan in material fees, 89,088 million yuan in labor costs, and 20,556 million yuan in other expenses.