MESNAC Union Technology Co., Ltd. announced a placement of common shares for gross proceeds of CNY 100,000,000 on June 29, 2023. The transaction will include participation from returning investor, Mesnac Co., Ltd. Through the transaction, the registered capital will increase from CNY 60,000,000 to CNY 160,000,000. The transaction has been approved in the eight meeting of Mesnac Co., Ltd's eight directorate and does not need the shareholders’ approval.