Jiangsu Ruizhi Zhonghe New Energy Technology Co., Ltd. announced that it will issue common shares for gross proceeds of CNY 70,000,000 on March 8, 2022. The transaction will include participation from China Dive Company Limited for 51% stake in the company for CNY 51 million, Chen Xuedong for 7% stake in the company for CNY 7 million, Anhui Ruihezhi Business Consulting Partnership (Limited Partnership) for 5% stake in the company for CNY 5 million, Feng Tianran for 3% stake in the company for CNY 3 million, Fan Xianguo for 2% stake in the company for CNY 2 million, Changzhou Yicheng Venture Capital Partnership (Limited Partnership) for 2% stake in the company for CNY 2 million. The transaction has been approved at the 30th meeting of the 4th board of directors.