PR97253

HEFEI, China, July 28, 2022 /PRNewswire=KYODO JBN/ --

On July 28, Gotion High -Tech Co., Ltd. (SZE: 002074 / SSE GDRs: GOTION), the

world-leading Chinese power battery manufacturer, officially listed on the

Swiss Stock Exchange by issued global depositary receipts(GDR), becoming the

first group of Chinese companies that came to Swiss Stock Exchange.

The Swiss Stock Exchange and the Shenzhen Stock Exchange and Shanghai Stock

Exchange held a simultaneous ceremony of China-Swiss Stock Connect Celebration

and GDRs Listing Event in the 3 city.Mr. Fang Xinghai, Vice Chairman of CSRC,

and Mr. Stoffel, State Secretary of the Swiss Ministry of Finance, announced

the official opening of the GDR business for the connection of the Swiss and

Chinese securities markets.

Gotion has placed  22,833,400 GDRs at an offer price of USD 30.00 per GDR, with

one GDR representing an interest in five A shares of the Company, resulting in

gross proceeds of approximately  USD  685 million from the Offering.

The issue of GDR is the largest GDR project in terms of size of the underlying

issue on the Swiss Stock Exchange since the implementation of the China-Europe

Stock Connect rules. it is also the largest equity financing project issued in

the Swiss market so far this year.

Gotion particularly to grow overseas production capacity of battery products

and raw materials through investment in fixed assets, acquisition of equity

interests or other means, to increase the Company's international footprint, to

increase working capital and to match other general corporate uses, and to help

the Company Contribute to the common goal of the world about carbon peaking

eventually.

Mr. LI Zhen, Chairman of the Board and General Manager of Gotion, says: "We are

delighted with the successful pricing of our offering of GDRs and the interest

from domestic and international investors in our company. This is a major

milestone in the history of Gotion. Our principal shareholders and I remain

fully committed in the long-term to further driving Gotion's growth story."

Gotion High-tech is one of the earliest companies in China to engage in

independent research and development, production and sales of EV lithium-ion

batteries, and has grown into a world-leading and rapidly expanding provider of

new energy solutions. Volkswagen officially became the largest shareholder of

Gotion at the end of 2021.

SOURCE Gotion High-tech