Grandway Advised Ningbo Fangzheng on Issuing Shares to Specific Investors Approved by SZSE

On November 24, 2022, Ningbo Fangzheng Automobile Mould Co., Ltd. (“Ningbo Fangzheng”, stock code: 300998) was approved by Shenzhen Stock Exchange for the issuance of shares to specific investors (“Issuance”).

Ningbo Fangzheng focuses on the design and production of automotive plastic moulds, components, intelligent equipment and precision structural parts for lithium batteries as its core business, focusing on the field of automotive intelligent manufacturing equipment and technology, adhering to the strategy of branding and internationalization, and giving full play to the company’s competitive advantages in core technology, quality service and brand reputation. At the same time, the company follows the development trend of new energy vehicle market as well as the development dynamic of light weight and decarbonization, and makes full use of its advantages in mold development and production capacity to actively explore the new energy market. With the advanced technology development level, excellent manufacturing process and service quality as well as the scale advantage of large-scale supply, the company has formed long-term and stable cooperation relationship with major clients.

The total proceeds of this Issuance will not exceed RMB 800 million, which will be used for lithium battery precision structural parts production base construction project and supplying working capital. The successful examination and approval of this issue will help realize the layout in the lithium battery precision structural parts industry, grasp the development opportunity of lithium battery market, help further improve the company’s profitability, and help realize the conversion of old and new dynamic energy and upgrade the quality of production capacity.