Xiangyang Millison Technologies Co., Ltd. announced a private placement of common shares for the gross proceeds of CNY 380,254,000 on June 5, 2023. The transaction will include participation from new investor Chongqing Millison Technologies INC. The transaction has ben approved in the 14th Meeting of the Company’s 1st Directorate and the 9th Meeting of the 1st Supervisory Board and is subject to the shareholders approval.