FAW Jiefang boosts new energy vehicle unit with capital injection

FAW Jiefang Group, through its wholly-owned subsidiary FAW Jiefang Automotive Co., Ltd., is investing 191m yuan into its joint venture, Jiefang Era New Energy Technology Co., Ltd. Existing shareholder CATL and new investor TGOOD New Energy Co., Ltd. will also increase their capital, bringing the total capital increase to 412m yuan. This investment aims to enhance Jiefang Era's financial strength and resource connectivity, deepening FAW Jiefang's presence in the new energy commercial vehicle ecosystem.

The transaction was approved by the board of directors on November 27, 2025. The capital increase is based on a pre-investment valuation of 92.543m yuan for Jiefang Era. Following the capital increase, FAW Jiefang Automotive Co., Ltd. and CATL New Energy Technology Co., Ltd. will each hold 47.0270% equity, while TGOOD New Energy Co., Ltd. will hold 5.9460%.

In a related announcement, FAW Jiefang Group also confirmed it will continue using temporarily idle raised funds for cash management and agreement deposits. The company aims to utilize up to 26m yuan in temporarily idle raised funds for cash management over a period not exceeding 12 months. This strategy, approved on November 27, 2025, aims to enhance capital efficiency without impacting ongoing investment projects.