Kunshan GuoLi Electronic Technology Co., Ltd. announces a private placement of gross proceeds for CNY 40 million in round of funding on June 28, 2023. Th transaction included the participation from Kunshan Ruipu Electric Co., Ltd., hold 100% stake. The registered capital is CNY 10 million.

On same date, the company held that the transaction has been approved fifth meeting of the third board of directors and third board of supervisors, reviewed and approved the Proposal on Using Raised Funds to Increase Capital of Subsidiaries and Provide Loans to Implement Raised Investment Projects.