Zhong Yang Technology Co.,Ltd announced a private placement to issue not more than 20,000,000 shares at an issue price of no less than 80% of the reference price on May 11, 2023. The transaction will include participation from new investors Hongyuan Investment Co., Ltd., Haobai Co., Ltd., Hyield Venture Capital Co., Ltd., Daniel & Jessica Happy Life Limited, Deve & Joan Happy Life Limited, CHENG, CHENG-TIEN, LEE, JUNG-CHOU, HSU, CHIH-CHENG, DENG, MING-KUN, HUANG, BO-SHENG, WANG, SHIH-KUANG and BOA FU INVESTMENT. The transaction has been approved by the shareholders of the company.

The shares are restricted to a hold period.