Guangzhou Speed Technology Co., Ltd. announced a placement of common shares for gross proceeds of CNY 200 million on October 8, 2023. The transaction will include participation from returning investor, Huizhou Speed Wireless Technology Co.,Ltd. The transaction has been approved at the 9th session of Huizhou Speed Wireless Technology Co.'s 5th directorate and the 9th session of the 5th supervisory board. After the capital increase, the company's registered capital will increase from CNY 100 million to CNY 300 million.