Beijing Lanrun Technology Development Co., Ltd announced a private placement of common shares for gross proceeds of CNY 390 million on August 17, 2022. The transaction will include participation from returning investor, Jiangyin Hengrun Heavy Industries Co., Ltd to retain its 100% stake. Post-closing, its registered capital will increase from CNY 110 million to CNY 500 million.

The transaction has been approved by the 25th meeting of the companyÆs 4th board of directors.