Fuchun Technology Co., Ltd. announced a private placement of 207,368,845 common shares for a gross proceeds of up to CNY 476,572,800 on April 21, 2021. The transaction will include participation from no more than 35 investors. The transaction has been approved at the ninth meeting of the fourth board of directors of the company. The transaction still needs to be approved by the company’s shareholders meeting, reviewed and approved by the Shenzhen Stock Exchange, and the China Securities Regulatory Commission. The shares shall not be transferred within 6 months from the end of the issuance.