Hubei Geoway Investment Co.,Ltd. announced a private placement of not more than 175,000,000 A shares at a price of CNY 1.79 per share for gross proceeds of not more than CNY 313.25 million on July 18, 2022. The transaction will include participation from Beijing Zhongyu Jiatai Industrial Co., Ltd. The transaction has been approved at the twenty-sixth meeting of the eighth board of directors of the company and approved in the seventeenth meeting of the eighth supervisory committee, and still needs to be approved by the China Securities Regulatory Commission. The shares issued shall not be transferred within 36 months from the date of the end of the issue.

On March 16, 2023, Hubei Geoway Investment Co.,Ltd., announced that it has received approval from the shareholder's of the company for the 2022 issuance to specific investors preliminary plan.