Suzhou homycloud Intelligent Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 47,647,100 on September 3, 2021. The transaction will include participation from new investor Zhejiang Tengen Electrics Co.,Ltd. for a 15% stake. Out of the total proceeds, CNY 8,823,500 will be included in the company's registered capital, and the remaining CNY 38,823,600 will be included in the company's capital reserve.

Post the transaction, the registered capital of the company will increase from CNY 50,000,000 to CNY 58,823,500. The transaction has been approved in the twelfth meeting of the investor's eighth board of directors.