Beijing Lanrun Technology Development Co., Ltd announced a private placement of common shares for gross proceeds of CNY 100 million on November 4, 2021. The transaction will include participation from returning investor Jiangyin Hengrun Heavy Industries Co., Ltd to retain its 100% stake. Post-closing, its registered capital will increase from CNY 10 million to CNY 110 million.

The transaction has been approved by the 18th session of the company's 4th directorate and 18th session of the 4th supervisory board.