Yichun You Lithium Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 230,000,000 on August 9, 2022. The transaction will include participation from returning investor, Anshan Heavy Duty Mining Machinery Co., Ltd. to retain 100% stake in the company. The transaction has been approved by board of directors of investor in 28th Meeting of the 6th Directorate and the 24th Meeting of the 6th Supervisory Board and is subject to the shareholdersÆ approval.