YaSheng Group announced a private placement of minimum of 40000 common shares and maximum of 20,000,000 common shares at a price of CNY 0.25 per common share for the minimum gross proceeds of CNY 10000 and maximum gross proceeds of CNY 5000000 on January 5, 2023. The company is raising funding through crowd-funding platform PicMii Crowdfunding LLC. The company will pay 4.5% fee to the crowdfunding platform in the transaction and a listing fee of up to $3,000.

The company will accept oversubscriptions in the transaction. The company will issue securities pursuant to exemptions provided under Regulation C. The securities issued in the transaction have a hold period of one year, post the closing. The transaction is expected to close on August 21, 2023.