Yongchuang Zhiyun (Zhejiang) Machinery Equipment Co., Ltd. announced a private placement of common shares for the gross proceeds of CNY 427,547,000 on September 14, 2022. The transaction includes participation from returning investor, Hangzhou Youngsun Intelligent Equipment Co., Ltd. to retain 100% stake. The transaction was approved by board of directors of the company in the twenty-third meeting of the fourth directorate and does not need the shareholders' approval.

On closing the registered capital of the company will increase from CNY 200,000,000 to CNY 300,000,000.