Shanghai Precision DEPPON Logistics Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 90,000,000 on April 26, 2022. The transaction will involve participation from existing investor, DEPPON LOGISTICS Co.,LTD. Post-closing of the transaction, the investor will retain its 100% stake in the company. The transaction has been approved at the fifth meeting of the fifth board of directors of the investor.