Zhejiang Longxiang New Energy Technology Co., Ltd. announced a private placement of common shares on March 14, 2023. The transaction will include participation from new investors Zhejiang Sunflower Great Health Limited Liability Company, Shaoxing Binhai New Area Integrated Circuit Industry Equity Investment Fund Partnership Enterprise (Limited Partnership) acquiring 26% stake and Shanghai Longxiang Private Fund Management Co., Ltd. acquiring 20% stake. The transaction has been approved in the 18th session of the company?s 5th directorate.