Payton Technology (Shenzhen) Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 1,500,000,000 on June 3, 2021. The transaction will include participation from returning investor Shenzhen Kaifa Technology Co., Ltd. The transaction has been approved at the 16th meeting of the 9th board of directors of the investor. Upon completion, the company's registered capital will increase from CNY 248,301,000 to CNY 1,748,301,000, and the investor will continue to hold 100% of the shares of the company.