Suzhou Cheersson Precision Metal Forming Co., Ltd. announced and signed a purchase agreement of private private placement of A shares at an issue price of not less than 80% of the average trading price during the 20 trading days prior to the pricing base date for the gross proceeds CNY 80 million on December 3, 2022. The transaction will include participation from not more than 35 investors. The transaction has been approved in the 24th session of the company's 2nd directorate and is subject to company's directorate and shareholders' meeting, Chinese Securities Regulatory Commission, to be filed and registered by the Suzhou Municipal Development and Reform Commission, to be filed and registered by the Suzhou Municipal Bureau of Commerce, and to handle foreign exchange registration for overseas investment at the bank. The shares are restricted to a hold period of 6 months from the date of announcement.

On April 24, 2023, the company announced the Shenzhen Stock Exchange reviewed and decided to accept the application.