Jiangsu Bojun Industrial Technology Co., Ltd announced a private placement of 14,000,000 A shares at a price of CNY 15.86 per share for total gross proceeds of not more than CNY 222,040,000 on March 31, 2022. The transaction will included participation from controlling shareholder Wu Yalin and Kunshan Jiaheng Investment Management Consulting Center (Limited Partnership). Wu Yalin hold 40.02% and Kunshan Jiaheng Investment Management Consulting Center (Limited Partnership) hold 9.22% shares in the company before this transaction. The the number of shares of the company held by the public after the issuance shall not be less than 25% of the total number of shares of the company. The issue price is not lower than 80% of the average price of the company's A shares in the 20 trading days before the pricing benchmark, average stock trading price in the 20 trading days before the pricing benchmark equal to 20 transactions before the pricing benchmark. The shares shall not be transferred within 18 months from the end of the issuance. The transaction has been approved at the fourth meeting of the tenth board of directors of the company. The transaction still needs to reviewed and approved by the company's shareholders' meeting, Shenzhen Stock Exchange, and China Securities Regulatory Commission.

On April 26, 2022, the company announced that the application for issuance of shares has been accepted by the Shenzhen Stock Exchange.