Zhejiang Yuanbang Intelligent Equipment Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 80,000,000 on October 28, 2021. The transaction will include participation from returning investors Yonggao Co., Ltd. for 14.702% stake in the company for gross proceeds of CNY 35,288,000, of which CNY 30,877,000 will increase registered capital, and CNY 4,411,000 will increase capital reserve, and AD Group for 18.63% stake in the company for gross proceeds of CNY 44,712,200, of which CNY 39,123,000 will increase registered capital, and CNY 5,588,900 will increase capital reserve. The transaction has been approved at the the fifteenth meeting of the fifth board of directors and the 11th meeting of the 5th board of supervisors of the investor.

As a result, company's registered capital will increase by CNY 70,000,000 from CNY 7,920,400 to CNY 77,920,400, and company's capital reserve will increase by CNY 10,000,000.