Luoyang Jiasheng Electric Control Technology Co., Ltd. entered into an agreement for the placement of common shares for gross proceeds of CNY 56,000,000 on April 19, 2023. The transaction will include participation from new investor, Jiangsu Yinhe Electronics Co.,Ltd. for 16% stake. The round will be raised at a pre-money valuation of CNY 294,000,000.

The investor shall make a one-time payment within 30 working days after the agreement takes effect and all the conditions precedent for capital contribution payment under this agreement are met or the investor waives it in writing. Through the transaction, the company's registered capital will increase by CNY 3,809,500 from CNY 20,000,000 to CNY 23,809,500.