Shenzhen Topband Lithium Battery Co., Ltd. announced that it will issue common shares for gross proceeds of not more than CNY 610,000,000 on January 7, 2022. The transaction will include participation from returning investor, Shenzhen Topband Co., Ltd. to retain 100% stake in the company. The transaction has been approved by the board of directors in its 18th extraordinary meeting of the 7th directorate of the investor and does not need the shareholders' approval.