Zhejiang Xili Intelligent Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 70,000,000 on June 21, 2023. The transaction will include participation from returning investor Hangzhou Xili Intelligent Technology Co.,Ltd to retain its 100% stake in the company. The transaction has been approved in the fifth meeting of the third board of directorate.

Post the transaction, the registered capital of the company will increase from CNY 150,000,000 to CNY 220,000,000.