Jiangxi Tellhow Military Industry Group Co., Ltd. announced a private placement for the gross proceeds of not more than CNY 726,721,200 on September 13, 2022. The transaction includes participation from new investors Beijing Guofa Aviation Engine Industry Investment Fund Center (Limited Partnership), a fund managed by Aero Engine Fund Management Co., Ltd. for 14.2248% stake, Sino-Singapore Connectivity Private Equity Fund Management Co., Ltd. for 8.5349% stake, Gongqingcheng Taichuang Tianyue Investment Partnership Enterprise (L.P.) for 0.4267% stake and Yulin Coal Resource Conversion Guidance Fund Partnership Enterprise (L.P.), a fund managed by Yulin Coal Conversion Fund Investment Management Co., Ltd. for 2.8450% stake. The transaction was approved on the 9th meeting of the 8th board of directors of the company. After the completion of the transaction Tellhow Sci-Tech Co., Ltd. will hold 73.9687% stake in the company.

On September 30, 2022, the company announced that there is capital increase in wholly owned subsidiary in the transaction.