AutoAI Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 100,000,000 from existing investor, NavInfo Co., Ltd. (SZSE:002405) on June 23, 2021. The transaction has been approved in the 7th Meeting of the investor's 5th Directorate and the 5th Meeting of the 5th Supervisory Board. As a part of the transaction, company’s registered capital will increase from CNY 100,000,000 to CNY 103,006,077. Post closing the transaction, the investor will hold 2.92% stake in the company.