Dongguan JWIPC Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 350,000,000 on September 14, 2022. The transaction will include participation from returning investor JWIPC Technology Co., Ltd. The company will add CNY 50,000,000 as registered capital and CNY 300,000,000 as capital reserve. The transaction has been approved at the 16th meeting of the 1st directorate and the 11th meeting of the 1st supervisory board of JWIPC Technology Co., Ltd.