Zhixing Automotive Technology Announces Plan for the Use of Proceeds from the Placement

According to the announcement, the placement funds will be mainly used to enhance the research and development of advanced intelligent driving, cockpit integrated solutions and products. Among them, about 60% of the funds will be used for research and development, about 10% will be used to upgrade research and development and production facilities, about 5% will be used to expand overseas sales and service networks, and the remaining 25% will be used for operating funds and general corporate purposes.