Cloud Live Tech Group (Gaoyou) New Energy Technology Co., Ltd. announced that it will issue common shares and convertible laon for gross proceeds of CNY 110,000,000 on June 28, 2023. The transaction will include participation from returning investor, Cloud Live Technology Group Co.,Ltd. will invest CNY 30,000,000 and will owe 52.91% stake and new investor, Yangzhou Kechuang Industry Investment Fund (Limited Partnership) will invest CNY 80,000,000. The investor, Yangzhou Kechuang Industry Investment Fund (Limited Partnership) will invest CNY 30,000,000 as common shares and CNY 50,000,000 as convertible loan.

The company registered capital will increase from CNY 318,000,000 to CNY 378,000,000. The transaction has been approved at the 5th directorate during its 8th (extraordinary) meeting. The transaction is subject to approval by concern authorities of Yangzhou City.