Jiangsu Fuzhi International Trade Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 70 million on August 19, 2022. The transaction will include participation from returning investor Jiangsu Feiliks International Logistics Inc. The transaction has been approved by the 15th meeting of the 5th board of directors and the 15th meeting of the 5th board of supervisors of Jiangsu Feiliks International Logistics Inc. Post closing, the registered capital of the company will be increased to CNY 100 million.