Guangzhou Zhiguang Energy Storage Technology Co., Ltd announced that it has entered into a capital increase agreement for private placement of common shares for gross proceeds of CNY 100 million on December 20, 2021. The transaction will include participation from new investor Shanghai Cooltech Power Co., Ltd for 7.19% stake in the company. The transaction has been approved by the 8th session of the company's 5th directorate.

Post closing, the registered capital of company will become CNY 151,068,217.