Sichuan Taifu Ground Beidou Technology Co., Ltd. announced that it will issue 578,948 common shares at an issue price of CNY 25.91 per share for gross proceeds of CNY 15,000,542.68 on July 12, 2024. The company has entered into investment agreement in the transaction. The transaction will include participation from new investor, Guangdong Champion Asia Electronics Co.,Ltd. for 347,368 common shares for CNY 9,000,304.88 and accounting for 3% stake, and new individual investors, Li Qiang, Li Peng, Luo Xiangjin, and Lv Hong?an for 57,895 common shares for CNY 1,500,059.45 each and accounting for 0.5% stake each.

After the capital increase, registered capital of company will be changed from CNY 11,000,000 to CNY 11,578,947. The transaction has been reviewed and approved in the 22nd meeting of the 3rd board of directors and the 19th meeting of the 3rd board of supervisors of the company. After the completion of capital increase, the post-money valuation of the company will be CNY 300,000,000.