Hubei W-olf Crystal Co., Ltd. announced that it will issue common shares for gross proceeds of CNY 31,000,000 on August 9, 2023. The transaction will include participation from returning investor, Hubei W-olf Photoelectric Technology Co., Ltd. will invest CNY 27,094,000 and its stake will decrease from 100% to 95.15% stake, individual investors, Huan Weiwei will invest CNY 1,302,000 for 1.62% stake, Zhao Gang will invest CNY 1,004,400 for 1.25% stake, Cheng Yong will invest CNY 1,004,400 for 1.25% stake, Tian Zeyun will invest CNY 198,400 for 0.25% stake, Liao Junsong will invest CNY 198,400 for 0.25% stake and Ouyang Jinbiao will invest CNY 198,400 for 0.25% stake. The transaction has been approved at the 23rd meeting of the company?s 2nd directorate.

Out of the total capital increase of CNY 31,000,000, CNY 25,000,000 will go to registered capital, and its registered capital will increase from CNY 40,000,000 to CNY 65,000,000.