Jiangsu Zoolnasm Energy Technology Co. Ltd announced a private placement of common shares for the gross proceeds of CNY 60,000,000 on June 9, 2023. The transaction will include participation from new investors Beijing Kunlun Internet Intelligent Industrial Investment Fund Partnership Enterprise (Limited Partnership) for CNY 10,000,000, Pylon Technologies Co., Ltd. for CNY 30,000,000, and Foshan Sinan Xinyu Equity Investment Partnership Enterprise (Limited Partnership) for CNY 20,000,000.

Prior capital increase, Beijing Kunlun Internet Intelligent Industrial Investment Fund Partnership Enterprise (Limited Partnership) holds 3.1414% stake in the company. Post capital increase, Beijing Kunlun Internet Intelligent Industrial Investment Fund Partnership Enterprise (Limited Partnership) will hold 3.6616% stake, The Company will hold 1.9231% stake and Foshan Sinan Xinyu Equity Investment Partnership Enterprise (Limited Partnership) will hold 1.2821% stake in the company. The transaction has been approved in the 9th Meeting of the Company?s 3rd Directorate and the 7th Meeting of the 3rd Supervisory Board and does not need the shareholders approval.

The company has a pre-money valuation of CNY 1,500,000,000.