Feilong Co., Ltd. announced that the board of directors of the company reviewed and approved the capital increase and stock expansion plan of the wholly-owned subsidiary Anhui Hangyi Technology Co., Ltd. After the adjustment, Feilong Co., Ltd. plans to purchase the new registered capital from 20 million yuan to 3.63 million yuan; Wuhu Longhang Enterprise Management Consulting Partnership plans to adjust the additional registered capital from 19.03 million yuan to 15.5 million yuan, and the shareholding target is still the core management team and key personnel of Hangyi Technology; Wuhu Ruilong Business Consulting Partnership plans to purchase the additional registered capital from 3.8 million yuan to 2.87 million yuan. The shareholding target was adjusted to the core technical personnel of Wuhu Feilong Automotive Electronics Technology Research Institute Co., Ltd. and the company's core sales staff in the non-automotive sector. The company's senior management and its shareholding platform Xixia County Longyi Management Consulting Partner will no longer participate in this capital increase. After the capital increase and share expansion is completed, the registered capital of Hangyi Technology will be changed to 100 million yuan, and the shareholding ratio of Feilong shares will be changed from 100% to 81.63%. Hangyi Technology is still the company's holding subsidiary. This bill does not need to be submitted to the shareholders' meeting for consideration.

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