Zhejiang Jiadebao Technology Co., Ltd. announced a private placement of 41,623,764 common shares for gross proceeds of CNY 120,000,000 on April 28, 2022. The transaction will include participation from Ningbo Homelink Eco-iTech Co., Ltd. The transaction has been approved at the 3rd extraordinary directorate meeting of 2022 and the 7th meeting of the supervisory board of Ningbo Homelink Eco-iTech Co., Ltd. Post the closing, the investor will hold 75% stake in the company.