Zhangjiagang Guotai Zhida Special Equipment Co., Ltd announced a private placement of common shares for gross proceeds of CNY 36,000,000 on August 19, 2021. The transaction will include participation from existing investors Jiangsu Guotai Zijin Technology Development Co., Ltd and Leader Harmonious Drive Systems Co., Ltd which will retain 50% stake by investing CNY 18,000,000 each. Post-closing, the registered capital will increase from CNY 20,000,000 to CNY 56,000,000.

The capital increase will be CNY 1 for each registered capital of CNY 1. The transaction has been approved in seventeenth meeting of the first board of directors and the fourteenth meeting of the first board of supervisors of Leader Harmonious Drive Systems Co., Ltd.