Guilin Juntaifu Electric Co., Ltd announced a private placement of common shares for gross proceeds of CNY 250,000,000 on May 23, 2022. The transaction will include participation from returning investor Hainan Jinpan Smart Technology Co., Ltd. Post closing, the registered capital of the company will be increased from CNY 50,000,000 to CNY 300,000,000. The transaction has been approved at the twenty-fifth meeting of the second board of directors.