Aotecar New Energy issues shares to controlling shareholder

Aotecar New Energy Technology Group Co. plans to issue up to 196,712,598 shares to its controlling shareholder, Hubei Yangtze River No. 1 Industrial Investment Partnership, at a price of RMB 2.54 per share. This issuance aims to raise up to RMB 49,965.00万元, which will be used to supplement working capital and repay bank loans. Upon completion, Hubei Yangtze River No. 1 Industrial Investment Partnership’s stake in Aotecar New Energy will increase to 22.26%, maintaining its controlling position.

The share issuance is part of Aotecar New Energy's strategy to enhance its financial strength and support ongoing R&D and market expansion in the competitive automotive thermal management sector. The company has identified financial risks including intensified market competition and customer cost pressures, which the capital injection aims to mitigate. This move is expected to improve the company's liquidity, optimize its capital structure, and bolster its ability to withstand risks.

Aotecar New Energy also announced its 2024 annual financial report, which was approved by the board on April 18, 2025. This report includes a proposed profit distribution plan for 2024, involving a cash dividend of RMB 0.031 (including tax) per 10 shares, totaling RMB 10,259,834.00.