Jiangsu Leili Motor Co., Ltd announced a private placement of common shares for gross proceeds of CNY 200,000,000 on July 5, 2021. The transaction will include participation from not more than 35 specific investors. The company will issue shares not exceed 30% of the total capital of the company at a price of not less than 80% of the average trading price during the 20 trading days prior to the pricing base date. The shares to be issued will have a hold period of 6 months, post the closing.