Beijing New Space Technology Co., Ltd. announced a private placement to issue not more than 19,255,455 shares at a price of CNY 15.58 per share for the aggregate gross proceeds of up to CNY 300,000,000 on February 22, 2023. The transaction will include participation from individual investor, Gong Hai. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved at the seventh meeting of the third board of directors of the company and still needs to be approved by the company's shareholders' meeting. The transaction got approved by the Shanghai Stock Exchange and by the China Securities Regulatory Commission.

On March 10, 2023, the company announced that the proposal on the company's compliance with the conditions for issuing A shares has been approved.