Huatian Technology (Nanjing) Co., Ltd. announced a private placement of 370,550,950 common shares for gross proceeds of CNY 379,999,999 on November 9, 2021. The transaction will include participation from returning investor, Tianshui Huatian Technology Co., Ltd whose stake will increase from 60% to 65.1633% in the company. Post the transaction, the registered capital of the company will increase from CNY 2,500,000,000 to CNY 2,870,533,633.

The transaction has been approved in the seventeenth meeting of the sixth board of directors of the investor. Out of the total, CNY 370,533,633 will added to registered capital and CNY 9,466,367 will to go capital reserve.