Ningbo Kelier Electrical Technology Co., Ltd announced that it will issue 7,466,700 shares at an issue price of CNY 2.38 per share for gross proceeds of CNY 17,770,746 on March 28, 2022. The transaction will include participation from Junhe Pumps Holding Co., Ltd for 70% stake. The transaction has been approved by the board of directors of the investor at its 7th session of the company's 4th directorate.