Shenzhen MTC Co., Ltd. announced a private placement of common shares for the gross proceeds of CNY 66.66 million on November 9, 2022. The transaction will include participation from returning investor, Nanchang MTC Investment Partnership Enterprise (Limited Partnership) for CNY44.33 million and new investor, Shenzhen 16 Consulting Management Partnership Enterprise (Limited Partnership) for CNY22.33 million. The transaction has been approved in the 1st session of the company's 6th directorate by the board of directors of the company.

Post completion of the transaction, Nanchang MTC Investment Partnership Enterprise (Limited Partnership) will hold 35% stake and Shenzhen 16 Consulting Management Partnership Enterprise (Limited Partnership) will hold 14% stake in the company.