Shenzhen FRD Science & Technology Co., Ltd. announced the private placement of CNY 67,430,883 shares at CNY 14.83 per share for gross proceeds of CNY 999,999,994.89 on April 27, 2023. The transaction included the participation from Nuode Asset Management, Jiangsu Ruihua Investment Management, UBS, Caitong Fund Management, Huatai Asset Management, Hunan Light Salt Venture Capital Management, China Asset Management, Chongqing Environmental Protection Industry Private Equity Investment Fund Management, Shenzhen Guhe Private Securities Fund Management, Li Tianhong and Jinan Jiangshan Investment, individual investor Li Tianhong.