TruePoint Technology (Beijing) Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 270,825,000 on July 25, 2022. The transaction will involve participation from existing investors, Beijing BDStar Navigation Co., Ltd. for CNY 232,500,000, Hainan Yunxin Investment Partnership (L.P.) for CNY 31,500,000 and Tianjin Zhendian Zhixing Management Consulting Center (Limited Partnership) for CNY 6,825,000. The transaction has been approved by the board of directors of Beijing BDStar Navigation Co., Ltd. at 18th meeting of the 6th Board of Directors.