Hangzhou IECHO Automation Technology Co., Ltd. announced that it will issue common shares for gross proceeds of CNY 30 million on February 4, 2023. The transaction will include participation from returning investor, Hangzhou IECHO Science & Technology Co., Ltd. The transaction has been approved at the 20th meeting of the second board of directors and the 17th meeting of the second board of supervisors. After the completion of the transaction, its registered capital will be increased from 130 million to 160 million.