Guotang Automobile Co., Ltd. announced that it will issue common share for gross proceeds of CNY 200 million on July 11, 2023. The transaction will include participation from new investor, Gohigh Networks Co.,Ltd for 43.78% stake. The company's registered capital is CNY 196.08 million and CNY 1.98 million added as capital reserve.

The transaction still needs to be submitted to the most recent extraordinary shareholders? meeting for deliberation. The transaction has been approved in the 44th meeting of the 9th board of directors.