Dongguan Lithium Smart Energy Co., Ltd. announced a private placement gross proceeds of CNY 50,000,000 on May 24, 2023. The transaction has been approved by 9th Meeting of the Company’s 11th Directorate. The transaction included the participation from existing investors Chongqing Zongshen Power Machinery, individual investors Xu Ting, Gao Shaoheng, Yang Guangliang, Huang Hai and Zhang Huijin.

The company does not need the Shareholders’ Approval.