Sichuan Etrol Technologies Co., Ltd. announced a private placement of 437,859,476 shares on November 3, 2022. The company will issue 236,628,960 shares to new investor Zhongyibin Xuzhou District Chuangyi Industrial Investment Co., Ltd. for 15% stake; 136,230,516 shares to Shenzhen High-Tech Investment Group Co., Ltd. for 14.24% stake; and 65,000,000 shares to Sichuan Capital Market Relief Development Securities Investment Fund Partnership LP for 4.12% stake in the company. The shares issued to Zhongyibin Xuzhou District Chuangyi Industrial Investment Co., Ltd. are subject to a hold period of 36 months from the date of issuance and the shares issued to Shenzhen High-Tech Investment Group Co., Ltd. and Sichuan Capital Market Relief Development Securities Investment Fund Partnership LP are subject to a hold period of 12 months from the date of issuance.

After completion of the transaction, Zhongyibin Xuzhou District Chuangyi Industrial Investment Co., Ltd. will become the controlling shareholder of the company.