Chongqing Landai Transmission Machinery Co., Ltd. announced a placement of common shares for gross proceeds of CNY 373,000,000 on February 20, 2023. The tranasaction will include participation from returning investor, Landai Technology Group Corp., Ltd. Through the capital increase, the company's registered capital will increase from CNY 230,000,000 to CNY 400,000,000 and the capital reserve by CNY 203,000,000. The transaction has been approved at the 32nd session of Landai Technology Group Corp., Ltd.'s 4th directorate and the 26th session of the company?s 4th supervisory board.