Hubei Fiberhome Ping'an Intelligent Fire Protection Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 40 million on May 16, 2022. The transaction will include participation from Wuhan Ligong Guangke Co., Ltd. for CNY 20.4 million and Hubei Ping'an Intelligent Fire Protection Engineering Co., Ltd. for CNY 19.6 million. After the capital increase, the registered capital of company increases from CNY 30 million to CNY 70 million.

The transaction has been approved and by the board of directors in its seventeenth meeting of the seventh board of directors. The company and Hubei Ping'an Intelligent Fire Protection Engineering Co., Ltd. signed the capital increase agreement in August 2022.