BAIC BluePark subsidiary opens special account for working capital

BAIC BluePark New Energy Technology Co., Ltd. (BAIC BluePark) announced the opening of a special bank account by its subsidiary, Beijing New Energy Vehicle Co., Ltd., for temporarily supplementing working capital from idle raised funds. This follows the approval of the company's board of directors on November 10, 2025, to utilize up to 850,000,000 yuan of idle raised funds for this purpose, with a usage period not exceeding 12 months.

The special account, with account number 338977087450 at China Everbright Bank Beijing Chongwen Sub-branch, was opened specifically for the storage and use of raised funds allocated for working capital. This account will not be used for other purposes. The signing of a three-party supervisory agreement, which includes China Everbright Bank Beijing Chongwen Sub-branch and China Securities Investment Consulting Co., Ltd., aims to regulate the management and use of the funds, ensuring investor protection and compliance.

The total raised funds from the private placement amounted to 6,045,107,283.30 yuan, with a net amount of 6,030,361,519.14 yuan after deducting issuance expenses. As of February 2025, the adjusted investment total for the projects is 603,036,150.00 yuan, with a committed investment of 610,889,730.00 yuan. The temporary working capital supplementation is part of the company's strategy to optimize capital efficiency.