Xi'an 1908 New Energy Technology Co., Ltd. announced a private placement of common shares on October 18, 2022. The transaction will include participation from new investors, Sunshine Global Circuits Co.,Ltd. for 1.36% stake, Shaanxi Financial Investment Yingnuo Qinchuang Angel Fund for 6.36% stake and Shuimu Huaqing (Guangzhou) Venture Fund managed by Innovation Angel Fund for 2.73% stake. Sunshine Global Circuits Co.,Ltd. will invest CNY 1.5 million in the company as the part of the transaction.