Jiaoxin Beidou (Hainan) Technology Co., Ltd. announced that it will issue 104,100,000 common shares at a price of CNY 1 per share for gross proceeds of CNY 104,100,000 on October 26, 2021. The transaction will include participation from new investor Trust Alliance Information Development Inc. Ltd. Shanghai for 51% stake in the company. The transaction will be in 3 phases: CNY 20,000,000 will be paid prior to November 30, 2021, CNY 30,000,000 prior to December 31, 2021 and the remaining to be paid prior to November 30, 2022.

Post completion of the transaction, the capital of the company will increase from CNY 100,000,000 to CNY 204,100,000. The transaction has been approved by the board of directors of Trust Alliance Information Development Inc. Ltd. Shanghai in the 10th session of its 5th directorate.