Changsha Zhengtong Cloud Computing Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 100 million on October 28, 2022. The transaction will include participation from returning investor SZZT Electronics CO.,LTD. to retain its 100% stake in the company. After the capital increase is completed, the registered capital of the company will increase from CNY 350,000,000 to CNY 450,000,000.

The transaction has been approved by the board of directors in its third meeting of the sixth board of directors of the company and third meeting of the sixth session of the Supervisory Committee of the company.