Linhai Benli Technology Co., Ltd. announced that it will issue common shares for gross proceeds of CNY 150,000,000 on June 17, 2022. The transaction will include participation from returning investor, Zhejiang Benli Technology Co., Ltd. to retain 100% stake in the company. After the completion, the registered capital of the company will increase from CNY 150,000,000 to CNY 300,000,000.

The transaction has been reviewed and approved in the 8th Meeting of the Company's 3rd Directorates, and in the 7th Meeting of the 3rd Board of Supervisors.