Sichuan Oule Intelligent Technology Co., Ltd. announced that it has entered into an investment cooperation agreement for a private placement of common shares for gross proceeds of CNY 50 million on March 30, 2021. The transaction will include participation from Shenzhen Dawei Innovation Technology Co., Ltd. (SZSE:002213) for CNY 36 million and will own 60% stake in the company, and Oule Technology (Hong Kong) Co., Ltd. for CNY 14 million and will own 40% stake in the company. The transaction has been approved at the twelfth meeting of the fifth board of directors of Shenzhen Dawei Innovation Technology Co., Ltd. (SZSE:002213). As a result, company's registered capital will be increase from CNY 10 million to CNY 60 million. The capital contribution shall be paid within 24 months after the completion of the industrial and commercial change, which can be paid in a lump sum or in installments.