Grandway Advised Enpower on the Issuance of Shares to Specific Investors

Zhuhai Enpower Electric Co., Ltd. (“Enpower”, 300681) was approved by China Securities Regulatory Commission to issue shares to specific investors.

The total amount of funds to be raised from the issuance will not exceed RMB 976,315,800, which will be used for the technical renovation and capacity expansion project of the Zhuhai production sites, new energy vehicle drive system industrial park project (Phase II) in Heze, Shangdong, Zhuhai R&D center construction project, and replenishment of working capital. It is an important initiative for the company to respond to the global consensus of the low-carbon economy, follow the market trends and opportunities, focus and upgrade its main business, and enhance its comprehensive competitiveness.