On 23 May, the application for non-public offering filed by Chongqing Sokon Industrial Group Co., Ltd. (“Sokon”) was passed and unconditionally approved by China Securities Regulatory Commission. Grandall Chongqing Office has been retained as the issuer’s legal counsel with LI Dong and LEI Meiling leading their team serving the case. 

Sokon is a comprehensive automobile manufacturer with sound R&D, supply, manufacturing and sales system as well as a top-tier intelligent factory around the world. The company has built close cooperation with Huawei in launching industry-leading intelligent electric vehicles. Its vehicle products cover intelligent electric vehicles, new energy and fuel passenger cars and commercial vehicles, and its brands include AITO, SERES, Fengon, Dongfeng Sokon and Ruichi.

The company intends to raise a limited amount of RMB 7,130,000,000 for technologies upgrade, user center construction and supplementary of working capital.